China Universal Asset Management Co. Ltd. Buys 5,359 Shares of Zymeworks Inc. (NYSE:ZYME)

China Universal Asset Management Co. Ltd. increased its stake in shares of Zymeworks Inc. (NYSE:ZYME) by 64.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 13,665 shares of the company’s stock after acquiring an additional 5,359 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Zymeworks were worth $171,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. California State Teachers Retirement System lifted its position in shares of Zymeworks by 2.9% during the 1st quarter. California State Teachers Retirement System now owns 43,420 shares of the company’s stock worth $457,000 after buying an additional 1,215 shares during the period. Arizona State Retirement System increased its holdings in 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 in the last quarter. ProShare Advisors LLC increased its holdings in Zymeworks by 11.1% during the 1st quarter. ProShare Advisors LLC now owns 14,952 shares of the company’s stock valued at $157,000 after purchasing an additional 1,499 shares in the last quarter. SummerHaven Investment Management LLC increased its holdings in Zymeworks by 2.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 90,158 shares of the company’s stock valued at $767,000 after purchasing an additional 1,772 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Zymeworks by 17.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,664 shares of the company’s stock valued at $165,000 after purchasing an additional 2,351 shares in the last quarter. Institutional investors own 92.89% of the company’s stock.

Zymeworks Stock Up 1.2 %

NYSE:ZYME opened at $13.87 on Thursday. Zymeworks Inc. has a 12-month low of $6.79 and a 12-month high of $14.05. The firm has a market capitalization of $980.68 million, a P/E ratio of -7.75 and a beta of 1.20. The stock’s fifty day simple moving average is $12.44 and its 200-day simple moving average is $10.38.

Zymeworks (NYSE:ZYME) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.01. Zymeworks had a negative return on equity of 21.97% and a negative net margin of 179.42%. The business had revenue of $19.24 million for the quarter, compared to analyst estimates of $23.16 million. During the same period last year, the company earned ($0.76) EPS. As a group, equities research analysts expect that Zymeworks Inc. will post -0.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ZYME. HC Wainwright reaffirmed a “neutral” rating and set a $12.00 price target on shares of Zymeworks in a report on Tuesday, October 22nd. Stifel Nicolaus lifted their target price on Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a research note on Monday.

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.