AJOVista LLC Takes $66,000 Position in Zymeworks Inc. (NYSE:ZYME)

AJOVista LLC acquired a new position in shares of Zymeworks Inc. (NYSE:ZYME) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 6,362 shares of the company’s stock, valued at approximately $66,000.

Other hedge funds have also made changes to their positions in the company. Gladius Capital Management LP grew its position in Zymeworks by 36.5% during the third quarter. Gladius Capital Management LP now owns 3,940 shares of the company’s stock worth $25,000 after buying an additional 1,053 shares during the period. New York State Teachers Retirement System acquired a new position in Zymeworks during the fourth quarter worth $50,000. China Universal Asset Management Co. Ltd. purchased a new stake in Zymeworks during the fourth quarter worth $84,000. Arizona State Retirement System purchased a new position in shares of Zymeworks in the third quarter valued at $64,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Zymeworks during the 3rd quarter worth $80,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Zymeworks from $14.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday. Citigroup dropped their price target on Zymeworks from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Friday.

Zymeworks Price Performance

ZYME opened at $9.16 on Monday. The firm has a 50 day moving average price of $10.12 and a 200 day moving average price of $9.73. Zymeworks Inc. has a 1 year low of $6.01 and a 1 year high of $13.14.

Zymeworks (NYSE:ZYME) last posted its quarterly earnings results on Wednesday, March 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.19. The firm had revenue of $16.93 million for the quarter, compared to analysts’ expectations of $18.32 million. Zymeworks had a negative net margin of 249.63% and a negative return on equity of 28.37%. As a group, analysts forecast that Zymeworks Inc. will post -1.04 earnings per share for the current fiscal 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.