Zymeworks Inc. (NYSE:ZYME) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC lessened its position in shares of Zymeworks Inc. (NYSE:ZYME) by 80.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 94,272 shares of the company’s stock after selling 395,230 shares during the period. AQR Capital Management LLC’s holdings in Zymeworks were worth $802,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Zymeworks in the first quarter valued at about $579,000. O Shaughnessy Asset Management LLC lifted its stake in Zymeworks by 51.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 255,497 shares of the company’s stock valued at $2,688,000 after buying an additional 86,797 shares in the last quarter. Rubric Capital Management LP grew its holdings in Zymeworks by 12.7% during the 2nd quarter. Rubric Capital Management LP now owns 3,917,331 shares of the company’s stock valued at $33,336,000 after buying an additional 441,947 shares during the last quarter. Squarepoint Ops LLC increased its position in Zymeworks by 401.9% during the second quarter. Squarepoint Ops LLC now owns 73,324 shares of the company’s stock worth $624,000 after buying an additional 58,716 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Zymeworks by 104.8% in the second quarter. Renaissance Technologies LLC now owns 236,781 shares of the company’s stock worth $2,015,000 after acquiring an additional 121,181 shares during the last quarter. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Zymeworks Trading Up 2.8 %

Zymeworks stock opened at $13.20 on Friday. The stock has a fifty day moving average price of $11.71 and a 200 day moving average price of $10.07. Zymeworks Inc. has a 52 week low of $6.22 and a 52 week high of $13.27. The firm has a market capitalization of $937.86 million, a P/E ratio of -8.68 and a beta of 1.20.

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

Analysts Set New Price Targets

A number of analysts recently commented on the company. Stifel Nicolaus lifted their price objective on Zymeworks from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. HC Wainwright lifted their price target on shares of Zymeworks from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th.

Zymeworks Profile

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.