Zymeworks’ (ZYME) Neutral Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their neutral rating on shares of Zymeworks (NYSE:ZYME) in a report released on Wednesday, Benzinga reports. The firm currently has a $10.00 target price on the stock.

Separately, Stifel Nicolaus increased their price target on shares of Zymeworks from $20.00 to $21.00 and gave the stock a buy rating in a research report on Friday, August 2nd.

Zymeworks Stock Up 0.3 %

ZYME stock opened at $13.09 on Wednesday. Zymeworks has a 52-week low of $6.01 and a 52-week high of $13.23. The business has a fifty day moving average of $11.03 and a two-hundred day moving average of $9.89. The stock has a market cap of $925.53 million, a price-to-earnings ratio of -7.31 and a beta of 1.19.

Zymeworks (NYSE:ZYME) last released its quarterly 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 business had revenue of $19.24 million for the quarter, compared to the consensus estimate of $23.16 million. During the same period in the previous year, the firm earned ($0.76) EPS. As a group, sell-side analysts anticipate that Zymeworks will post -0.85 EPS for the current year.

Hedge Funds Weigh In On Zymeworks

Several large investors have recently bought and sold shares of ZYME. Rubric Capital Management LP boosted its position in shares of Zymeworks by 31.1% during the 4th quarter. Rubric Capital Management LP now owns 3,475,384 shares of the company’s stock worth $36,109,000 after acquiring an additional 823,990 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Zymeworks in the 1st quarter valued at about $579,000. O Shaughnessy Asset Management LLC boosted its position in shares of 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 purchasing an additional 86,797 shares during the period. AlphaMark Advisors LLC purchased a new position in Zymeworks during the 1st quarter worth approximately $32,000. Finally, Wellington Management Group LLP increased its position in Zymeworks by 31.0% during the fourth quarter. Wellington Management Group LLP now owns 205,246 shares of the company’s stock worth $2,133,000 after buying an additional 48,564 shares during the period. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Zymeworks Company 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.