Vestal Point Capital LP Grows Stock Holdings in Zymeworks Inc. (NYSE:ZYME)

Vestal Point Capital LP grew its stake in Zymeworks Inc. (NYSE:ZYME) by 39.8% in the third quarter, Holdings Channel.com reports. The firm owned 615,000 shares of the company’s stock after acquiring an additional 175,000 shares during the quarter. Vestal Point Capital LP’s holdings in Zymeworks were worth $7,718,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ZYME. FMR LLC boosted its holdings in Zymeworks by 84.2% in the 3rd quarter. FMR LLC now owns 3,336 shares of the company’s stock valued at $42,000 after purchasing an additional 1,525 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Zymeworks during the 3rd quarter valued at approximately $47,000. nVerses Capital LLC acquired a new position in Zymeworks in the third quarter valued at approximately $79,000. Quest Partners LLC grew its position in Zymeworks by 8,049.6% in the second quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock worth $78,000 after acquiring an additional 9,096 shares during the period. Finally, MQS Management LLC acquired a new stake in Zymeworks during the second quarter worth $92,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

Analyst Upgrades and Downgrades

ZYME has been the subject of a number of research analyst reports. Leerink Partnrs upgraded Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Stifel Nicolaus increased their target price on shares of Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. HC Wainwright reissued a “neutral” rating and issued a $12.00 price target on shares of Zymeworks in a research note on Friday, November 22nd. Citigroup upped their price objective on shares of Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, Wells Fargo & Company downgraded shares of Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 target price for the company. in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

Zymeworks Stock Up 0.8 %

Shares of ZYME stock opened at $14.42 on Friday. Zymeworks Inc. has a 52 week low of $7.97 and a 52 week high of $17.70. The firm has a 50 day moving average of $13.88 and a two-hundred day moving average of $11.32. The stock has a market capitalization of $993.25 million, a PE ratio of -9.61 and a beta of 1.16.

Zymeworks (NYSE:ZYME) last released its earnings results on Thursday, October 31st. The company reported ($0.39) EPS for the quarter, topping 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%. Zymeworks’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.41) EPS. Analysts expect that Zymeworks Inc. will post -1.22 EPS for the current fiscal 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.