Picton Mahoney Asset Management Cuts Stock Holdings in Zymeworks Inc. (NYSE:ZYME)

Picton Mahoney Asset Management reduced its stake in shares of Zymeworks Inc. (NYSE:ZYME) by 0.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 356,906 shares of the company’s stock after selling 1,912 shares during the period. Picton Mahoney Asset Management owned 0.51% of Zymeworks worth $3,709,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. AJOVista LLC acquired a new position in shares of Zymeworks during the 4th quarter worth approximately $66,000. SummerHaven Investment Management LLC boosted its holdings in shares of Zymeworks by 1.4% during the 4th quarter. SummerHaven Investment Management LLC now owns 87,509 shares of the company’s stock worth $909,000 after purchasing an additional 1,199 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Zymeworks by 387.5% in the fourth quarter. Russell Investments Group Ltd. now owns 27,004 shares of the company’s stock valued at $281,000 after acquiring an additional 21,465 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Zymeworks by 20.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 227,625 shares of the company’s stock valued at $2,365,000 after acquiring an additional 38,181 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Zymeworks by 6.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,958 shares of the company’s stock valued at $290,000 after acquiring an additional 1,748 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Zymeworks Stock Down 0.7 %

NYSE ZYME traded down $0.06 on Wednesday, reaching $9.06. The stock had a trading volume of 879,258 shares, compared to its average volume of 595,253. The firm has a market capitalization of $640.63 million, a price-to-earnings ratio of -5.06 and a beta of 1.16. Zymeworks Inc. has a 12-month low of $6.01 and a 12-month high of $13.14. The stock has a fifty day moving average price of $9.92 and a two-hundred day moving average price of $9.75.

Zymeworks (NYSE:ZYME) last posted its quarterly earnings data on Wednesday, March 6th. The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.19. Zymeworks had a negative return on equity of 28.37% and a negative net margin of 249.63%. The business had revenue of $16.93 million for the quarter, compared to analyst estimates of $18.32 million. Sell-side analysts forecast that Zymeworks Inc. will post -1.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ZYME. Wells Fargo & Company decreased their price objective on Zymeworks from $14.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. HC Wainwright reiterated a “neutral” rating and issued a $10.00 price objective on shares of Zymeworks in a report on Tuesday. Finally, Citigroup decreased their price objective on Zymeworks from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, May 3rd.

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.