Assenagon Asset Management S.A. Sells 679,400 Shares of Zymeworks Inc. $ZYME

Assenagon Asset Management S.A. trimmed its holdings in shares of Zymeworks Inc. (NASDAQ:ZYME) by 51.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 647,374 shares of the company’s stock after selling 679,400 shares during the period. Assenagon Asset Management S.A.’s holdings in Zymeworks were worth $17,045,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Federated Hermes Inc. lifted its stake in shares of Zymeworks by 0.3% in the third quarter. Federated Hermes Inc. now owns 182,847 shares of the company’s stock worth $3,123,000 after buying an additional 577 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Zymeworks by 29.6% during the second quarter. Tower Research Capital LLC TRC now owns 4,947 shares of the company’s stock valued at $62,000 after buying an additional 1,131 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Zymeworks by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,385 shares of the company’s stock valued at $386,000 after acquiring an additional 1,427 shares in the last quarter. Optiver Holding B.V. bought a new stake in shares of Zymeworks during the third quarter valued at approximately $26,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in Zymeworks by 3.5% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 55,975 shares of the company’s stock worth $956,000 after acquiring an additional 1,900 shares during the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Insider Buying and Selling

In other news, COO Mark Hollywood sold 6,120 shares of the firm’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $22.67, for a total value of $138,740.40. Following the transaction, the chief operating officer owned 132,913 shares of the company’s stock, valued at $3,013,137.71. This trade represents a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeffrey T. L. Smith sold 9,310 shares of Zymeworks stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $22.67, for a total value of $211,057.70. Following the transaction, the executive vice president directly owned 26,708 shares in the company, valued at approximately $605,470.36. The trade was a 25.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 140,405 shares of company stock worth $3,389,509. Company insiders own 33.51% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ZYME. Stifel Nicolaus upped their price objective on Zymeworks from $40.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Wells Fargo & Company upgraded Zymeworks from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $25.00 to $33.00 in a research note on Friday, December 12th. Citigroup initiated coverage on Zymeworks in a report on Wednesday, December 3rd. They set an “outperform” rating on the stock. HC Wainwright increased their price objective on Zymeworks from $32.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Zymeworks in a report on Wednesday, January 21st. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.89.

Zymeworks Price Performance

Shares of Zymeworks stock opened at $24.69 on Friday. The company’s fifty day simple moving average is $23.46 and its 200-day simple moving average is $21.99. The stock has a market capitalization of $1.82 billion, a PE ratio of -22.86 and a beta of 1.23. Zymeworks Inc. has a 1-year low of $9.03 and a 1-year high of $28.49.

Zymeworks (NASDAQ:ZYME) last posted its quarterly earnings data on Monday, March 2nd. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.20). Zymeworks had a negative return on equity of 26.00% and a negative net margin of 76.56%.The company had revenue of $2.52 million during the quarter, compared to analysts’ expectations of $21.78 million. During the same quarter last year, the company earned ($0.31) earnings per share. The company’s revenue for the quarter was down 91.9% on a year-over-year basis.

About Zymeworks

Zymeworks Inc is a clinical-stage biopharmaceutical company dedicated to the discovery, development and commercialization of next-generation multifunctional biotherapeutics. The company specializes in engineered antibody and protein therapeutics designed to address a range of unmet medical needs in oncology and other serious diseases. Through its proprietary platforms, Zymeworks aims to create novel bispecific and multispecific molecules that can simultaneously engage multiple targets and recruit immune effector functions to enhance potency and specificity.

At the core of Zymeworks’ innovation is its Azymetric™ bispecific antibody platform, which enables the design of asymmetrical bispecific antibodies with controlled assembly and high stability.