Michael Burry is Shorting Tesla Inc. (NASDAQ: TSLA) and Buying These 5 Stocks Instead

3. Zymeworks Inc. (NYSE: ZYME)

Number of Hedge Fund Holders: 28     

Zymeworks Inc. (NYSE: ZYME) is a Canada-based biotechnology firm that develops protein therapeutics for the treatment of cancer as well as for autoimmune and inflammatory diseases. Burry has invested in more than 281,000 shares of the biotech company worth over $8.8 million. This value represents almost 0.65% of the total investment portfolio of Scion Asset Management.

In earnings for the first quarter of 2021 posted on May 5, Zymeworks Inc. (NYSE: ZYME) reported a revenue of $0.64 million, down close to 92% year-on-year and missing market predictions by over $5.5 million.

At the end of the fourth quarter of 2020, 28 hedge funds in the database of Insider Monkey held stakes worth $688 million in Zymeworks Inc. (NYSE: ZYME), down from 29 in the preceding quarter worth $748 million.