Truvestments Capital LLC Grows Stake in Zymeworks Inc (NYSE:ZYME)

Truvestments Capital LLC lifted its stake in shares of Zymeworks Inc (NYSE:ZYME) by 100.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,000 shares of the company’s stock after purchasing an additional 500 shares during the period. Truvestments Capital LLC’s holdings in Zymeworks were worth $25,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Zymeworks by 42.3% during the second quarter. BlackRock Inc. now owns 1,679 shares of the company’s stock worth $37,000 after purchasing an additional 499 shares in the last quarter. Advisor Group Inc. increased its stake in shares of Zymeworks by 42.7% during the second quarter. Advisor Group Inc. now owns 1,806 shares of the company’s stock worth $40,000 after purchasing an additional 540 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Zymeworks by 22.7% during the second quarter. Bank of Montreal Can now owns 7,310 shares of the company’s stock worth $161,000 after purchasing an additional 1,350 shares in the last quarter. A.R.T. Advisors LLC purchased a new stake in shares of Zymeworks during the second quarter worth about $201,000. Finally, Jane Street Group LLC purchased a new stake in shares of Zymeworks during the second quarter worth about $211,000. 49.86% of the stock is owned by institutional investors and hedge funds.

Shares of ZYME stock traded up $0.33 during trading hours on Friday, hitting $27.13. The company had a trading volume of 200 shares, compared to its average volume of 240,624. The company’s fifty day moving average is $26.25 and its 200 day moving average is $21.67. The company has a debt-to-equity ratio of 0.02, a current ratio of 9.07 and a quick ratio of 9.07. Zymeworks Inc has a fifty-two week low of $10.72 and a fifty-two week high of $29.75. The stock has a market capitalization of $1.04 billion, a PE ratio of -21.53 and a beta of 1.34.

Zymeworks (NYSE:ZYME) last issued its quarterly earnings data on Friday, August 2nd. The company reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.83) by ($0.06). Zymeworks had a negative return on equity of 24.44% and a negative net margin of 102.78%. The company had revenue of $7.88 million during the quarter, compared to analyst estimates of $7.25 million. Equities analysts forecast that Zymeworks Inc will post -2.75 earnings per share for the current year.

A number of equities analysts recently weighed in on the stock. Citigroup boosted their price target on shares of Zymeworks from $22.00 to $49.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Stifel Nicolaus assumed coverage on shares of Zymeworks in a research report on Friday, August 30th. They set a “buy” rating and a $45.00 price target on the stock. Raymond James upgraded shares of Zymeworks from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $36.00 to $40.00 in a research report on Monday, September 30th. Barclays boosted their price target on shares of Zymeworks from $15.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Finally, ValuEngine lowered shares of Zymeworks from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Zymeworks currently has a consensus rating of “Buy” and a consensus target price of $35.25.

Zymeworks Company Profile

Zymeworks Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of bio-therapeutics for the treatment of cancer in Canada. The company's lead product candidates include ZW25, a bispecific antibody that is in Phase I clinical trial for the treatment of breast and gastric cancer; ZW49, a bispecific antibody-drug conjugate that is in preclinical stage for treating breast and gastric cancers, and solid tumors.

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Institutional Ownership by Quarter for Zymeworks (NYSE:ZYME)

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