Right. So, Redmile Group decided to quietly shave off $70.10 million worth of Zymeworks (ZYME 2.57%) shares. It’s always the quiet ones, isn’t it? They’re calling it a portfolio adjustment. I call it… well, let’s just say I’ve seen this movie before. A 60% jump in a year? Darling, that’s practically begging someone to take a profit. And Redmile, bless their calculated hearts, obliged.
Let’s Be Honest
They reduced their stake by 3,214,096 shares, bringing Zymeworks down to a measly 0.95% of their portfolio. Less than 1%. It’s the financial equivalent of ghosting. They’re not completely abandoning ship – they still have a little skin in the game – but they’ve definitely moved to a safe distance. The quarter-end value dropped $50.35 million. A tidy sum. It’s a good thing they’re not relying on me for financial advice. I’d have probably invested it all in vintage champagne.
What Else Is Going On?
- Their top holdings now include NASDAQ:SRRK ($229.98 million), NASDAQ:KRYS ($167.08 million), NASDAQ:NRIX ($153.54 million), NASDAQ:STOK ($128.04 million), and NASDAQ:IMNM ($122.83 million). A perfectly sensible, diversified portfolio. Though honestly, the ticker symbols sound like a secret code.
- As of February 17, 2026, Zymeworks was trading at $23.07. Up 60% in a year. Which is… impressive, I guess. Though let’s not confuse luck with skill.
A Quick Look Under the Hood
| Metric | Value |
|---|---|
| Price (as of market close 2026-02-17) | $23.07 |
| Market Capitalization | $1.74 billion |
| Revenue (TTM) | $134.48 million |
| Net Income (TTM) | ($63.43 million) |
The Company Line
Zymeworks, for those of you keeping score at home, develops and commercializes biotherapeutics for cancer. They’re working on zanidatamab (a bispecific antibody) and ZW49 (an antibody-drug conjugate). Sounds… complicated. They generate revenue through licensing agreements, research collaborations, and milestone payments. Basically, they’re very good at asking other people for money. And, to be fair, they’re targeting pharmaceutical companies and healthcare providers focused on oncology. A noble cause, if you can stomach the risk.
So, What Does It All Mean?
Here’s the thing. Zymeworks is in a weird phase. They’ve got positive Phase 3 data for zanidatamab, which is good. They’re eligible for up to $440 million in regulatory milestone payments, which is very good. And they ended 2025 with approximately $270.6 million in cash and marketable securities. Which is… reassuring. But they’re also balancing royalty aggregation, internal R&D, and capital returns. A lot of moving parts.
Redmile trimming their position into strength? It’s not necessarily a loss of faith. It’s more like… capital recycling. They’re still running a concentrated biotech portfolio. But let’s be real, darling. In this market, nothing is certain. And a 60% jump in a year? It’s a beautiful thing. But it’s also a warning. Enjoy the ride while it lasts. Because, trust me, the market always gets the last laugh.
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2026-02-22 21:02