TPG Financial Advisors LLC Lowers Position in Zymeworks Inc. (NYSE:ZYME)

TPG Financial Advisors LLC reduced its position in shares of Zymeworks Inc. (NYSE:ZYME) by 9.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,017 shares of the company’s stock after selling 1,000 shares during the period. TPG Financial Advisors LLC’s holdings in Zymeworks were worth $147,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ZYME. Charles Schwab Investment Management Inc. grew its position in shares of Zymeworks by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 132,798 shares of the company’s stock valued at $1,667,000 after acquiring an additional 650 shares during the period. Arizona State Retirement System raised its stake in shares of Zymeworks by 11.1% during the 2nd quarter. Arizona State Retirement System now owns 12,841 shares of the company’s stock valued at $109,000 after purchasing an additional 1,285 shares during the period. FMR LLC increased its position in shares of Zymeworks by 84.2% during the third quarter. FMR LLC now owns 3,336 shares of the company’s stock valued at $42,000 after buying an additional 1,525 shares during the period. Stifel Financial Corp raised its position in shares of Zymeworks by 2.1% in the third quarter. Stifel Financial Corp now owns 73,654 shares of the company’s stock worth $924,000 after buying an additional 1,540 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Zymeworks by 13.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,695 shares of the company’s stock valued at $193,000 after acquiring an additional 2,653 shares during the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Kenneth Galbraith sold 57,291 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $14.92, for a total transaction of $854,781.72. Following the completion of the transaction, the chief executive officer now directly owns 47,543 shares of the company’s stock, valued at approximately $709,341.56. This trade represents a 54.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ecor1 Capital, Llc acquired 204,098 shares of the company’s stock in a transaction on Friday, January 10th. The shares were bought at an average cost of $13.13 per share, with a total value of $2,679,806.74. Following the acquisition, the director now directly owns 15,411,078 shares in the company, valued at approximately $202,347,454.14. The trade was a 1.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders bought 470,637 shares of company stock worth $6,571,473 and sold 89,601 shares worth $1,336,847. Company insiders own 1.92% of the company’s stock.

Zymeworks Price Performance

Shares of ZYME opened at $13.96 on Tuesday. Zymeworks Inc. has a one year low of $7.97 and a one year high of $17.70. The business has a fifty day moving average of $14.48 and a 200 day moving average of $12.48. The firm has a market capitalization of $961.54 million, a P/E ratio of -9.31 and a beta of 1.10.

Zymeworks (NYSE:ZYME) last announced its earnings results on Thursday, October 31st. The company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.01. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The business had revenue of $16.00 million during the quarter, compared to analysts’ expectations of $17.90 million. During the same period in the prior year, the company earned ($0.41) earnings per share. The firm’s revenue was down 3.1% on a year-over-year basis. Analysts expect that Zymeworks Inc. will post -1.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ZYME has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 target price on the stock in a research note on Monday, December 16th. Wells Fargo & Company lifted their target price on shares of Zymeworks from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 19th. Stifel Nicolaus increased their price objective on Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Citigroup raised their price target on Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Leerink Partnrs raised Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.17.

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.