Jacobs Levy Equity Management Inc. Acquires 348,441 Shares of Zymeworks Inc. (NYSE:ZYME)

Jacobs Levy Equity Management Inc. grew its holdings in shares of Zymeworks Inc. (NYSE:ZYME) by 94.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 716,482 shares of the company’s stock after purchasing an additional 348,441 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Zymeworks were worth $7,537,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. AlphaMark Advisors LLC acquired a new stake in Zymeworks in the first quarter valued at $32,000. New York State Teachers Retirement System acquired a new position in Zymeworks in the 4th quarter valued at about $50,000. AJOVista LLC bought a new stake in shares of Zymeworks during the fourth quarter worth approximately $66,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Zymeworks during the fourth quarter worth approximately $84,000. Finally, Tocqueville Asset Management L.P. acquired a new position in shares of Zymeworks in the first quarter valued at approximately $117,000. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on ZYME. Citigroup reduced their price target on Zymeworks from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. HC Wainwright reissued a “neutral” rating and issued a $10.00 target price on shares of Zymeworks in a research report on Thursday, June 6th. Finally, Wells Fargo & Company lowered their price target on shares of Zymeworks from $14.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd.

Zymeworks Stock Down 1.7 %

Shares of ZYME traded down $0.18 during trading hours on Tuesday, hitting $10.42. 397,701 shares of the company were exchanged, compared to its average volume of 605,893. Zymeworks Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $13.14. The company has a market cap of $736.80 million, a price-to-earnings ratio of -5.82 and a beta of 1.15. The firm’s fifty day moving average is $9.15 and its 200 day moving average is $9.89.

Zymeworks (NYSE:ZYME) last released its earnings results on Thursday, May 2nd. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.11). Zymeworks had a negative net margin of 249.63% and a negative return on equity of 28.37%. The firm had revenue of $10.03 million during the quarter, compared to the consensus estimate of $17.98 million. Analysts anticipate that Zymeworks Inc. will post -1.24 EPS for the current year.

About Zymeworks

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.