Segall Bryant & Hamill LLC Invests $1.15 Million in Zymeworks Inc. $ZYME

Segall Bryant & Hamill LLC bought a new position in shares of Zymeworks Inc. (NASDAQ:ZYME) during the first quarter, HoldingsChannel.com reports. The institutional investor bought 45,726 shares of the company’s stock, valued at approximately $1,145,000.

Several other hedge funds have also added to or reduced their stakes in ZYME. Rubric Capital Management LP grew its holdings in Zymeworks by 21.7% in the 1st quarter. Rubric Capital Management LP now owns 7,000,000 shares of the company’s stock valued at $175,280,000 after buying an additional 1,250,000 shares in the last quarter. Perceptive Advisors LLC boosted its position in shares of Zymeworks by 56.0% in the fourth quarter. Perceptive Advisors LLC now owns 3,261,850 shares of the company’s stock valued at $85,885,000 after acquiring an additional 1,171,187 shares during the period. Vanguard Group Inc. boosted its position in shares of Zymeworks by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 2,328,727 shares of the company’s stock valued at $61,315,000 after acquiring an additional 174,293 shares during the period. Vestal Point Capital LP grew its stake in shares of Zymeworks by 53.5% in the third quarter. Vestal Point Capital LP now owns 1,765,000 shares of the company’s stock valued at $30,146,000 after acquiring an additional 615,000 shares in the last quarter. Finally, Siren L.L.C. bought a new position in Zymeworks during the fourth quarter worth about $44,238,000. 92.89% of the stock is owned by institutional investors and hedge funds.

Zymeworks Price Performance

Shares of NASDAQ:ZYME opened at $23.50 on Thursday. Zymeworks Inc. has a one year low of $11.51 and a one year high of $29.75. The company has a market cap of $1.72 billion, a price-to-earnings ratio of -17.15 and a beta of 1.15. The firm has a 50 day simple moving average of $24.07 and a 200 day simple moving average of $24.46.

Zymeworks (NASDAQ:ZYME) last posted its earnings results on Tuesday, March 31st. The company reported ($0.59) earnings per share for the quarter. The company had revenue of $2.41 million for the quarter. Zymeworks had a negative return on equity of 37.97% and a negative net margin of 126.92%. As a group, analysts expect that Zymeworks Inc. will post 1.36 EPS for the current year.

Zymeworks declared that its Board of Directors has initiated a share repurchase program on Thursday, May 14th that permits the company to repurchase $125.00 million in shares. This repurchase authorization permits the company to reacquire up to 7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

ZYME has been the subject of a number of recent research reports. Citigroup reissued a “buy” rating on shares of Zymeworks in a report on Tuesday, June 30th. Truist Financial raised their target price on shares of Zymeworks from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Wells Fargo & Company lifted their price target on shares of Zymeworks from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Tuesday, June 30th. HC Wainwright boosted their price target on Zymeworks from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Zymeworks in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Zymeworks currently has an average rating of “Moderate Buy” and a consensus price target of $37.89.

Zymeworks Company Profile

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.