Empowered Funds LLC Has $4.21 Million Stake in Zymeworks Inc. (NYSE:ZYME)

Empowered Funds LLC boosted its position in shares of Zymeworks Inc. (NYSE:ZYME) by 5.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 335,661 shares of the company’s stock after acquiring an additional 17,018 shares during the quarter. Empowered Funds LLC owned 0.47% of Zymeworks worth $4,213,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ZYME. California State Teachers Retirement System lifted its stake in Zymeworks by 2.9% in the 1st quarter. California State Teachers Retirement System now owns 43,420 shares of the company’s stock valued at $457,000 after purchasing an additional 1,215 shares during the last quarter. Arizona State Retirement System raised its stake in Zymeworks by 11.1% in the second quarter. Arizona State Retirement System now owns 12,841 shares of the company’s stock valued at $109,000 after buying an additional 1,285 shares during the period. ProShare Advisors LLC lifted its position in shares of Zymeworks by 11.1% in the first quarter. ProShare Advisors LLC now owns 14,952 shares of the company’s stock valued at $157,000 after buying an additional 1,499 shares during the last quarter. SummerHaven Investment Management LLC boosted its stake in shares of Zymeworks by 2.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 90,158 shares of the company’s stock worth $767,000 after acquiring an additional 1,772 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Zymeworks by 17.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,664 shares of the company’s stock worth $165,000 after acquiring an additional 2,351 shares during the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

Analyst Ratings Changes

ZYME has been the subject of several research reports. Stifel Nicolaus raised their price target on Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a report on Monday, October 28th. Leerink Partnrs raised shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. HC Wainwright reissued a “neutral” rating and issued a $12.00 price target on shares of Zymeworks in a report on Friday, November 1st. Leerink Partners upgraded Zymeworks from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $10.00 to $25.00 in a report on Thursday, November 7th. Finally, Wells Fargo & Company lowered Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 target price on the stock. in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $19.00.

Zymeworks Stock Down 5.4 %

Shares of NYSE:ZYME opened at $15.39 on Monday. Zymeworks Inc. has a 12-month low of $7.54 and a 12-month high of $17.70. The company’s 50 day moving average price is $13.51 and its two-hundred day moving average price is $11.01. The firm has a market cap of $1.06 billion, a PE ratio of -10.26 and a beta of 1.16.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.01. The firm had revenue of $16.00 million during the quarter, compared to analysts’ expectations of $17.90 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.41) EPS. On average, research analysts expect that Zymeworks Inc. will post -1.01 EPS for the current year.

Zymeworks Profile

Zymeworks Inc, a clinical-stage biopharmaceutical company, discovers, develops, and commercializes biotherapeutics for the treatment of cancer. The company’s lead product candidates include zanidatamab, a human epidermal growth factor receptor 2 (HER2) that is in Phase 1, Phase 2, and Phase 3 clinical trials, including certain ongoing pivotal clinical trials; and zanidatamab zovodotin, a HER2 -targeted antibody-drug conjugate that is in Phase 2 clinical trial for the treatment of advanced or metastatic HER2-expressing tumors.