Zymeworks’ (ZYME) Neutral Rating Reaffirmed at HC Wainwright

Zymeworks (NYSE:ZYME)‘s stock had its “neutral” rating reiterated by research analysts at HC Wainwright in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $12.00 price objective on the stock. HC Wainwright’s target price suggests a potential downside of 12.41% from the stock’s current price.

Several other equities research analysts have also commented on ZYME. Stifel Nicolaus boosted their price objective on shares of Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday. Wells Fargo & Company downgraded Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 price target for the company. in a report on Friday.

Zymeworks Stock Performance

Shares of NYSE:ZYME opened at $13.70 on Friday. The firm has a market capitalization of $973.39 million, a P/E ratio of -9.01 and a beta of 1.20. The stock has a 50 day moving average price of $12.50 and a 200-day moving average price of $10.40. Zymeworks has a 52-week low of $6.79 and a 52-week high of $14.05.

Zymeworks (NYSE:ZYME) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.01. Zymeworks had a negative return on equity of 21.97% and a negative net margin of 179.42%. The business had revenue of $16.00 million during the quarter, compared to the consensus estimate of $17.90 million. During the same quarter in the prior year, the company earned ($0.41) earnings per share. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. On average, equities analysts forecast that Zymeworks will post -0.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Zymeworks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ZYME. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Zymeworks by 64.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 13,665 shares of the company’s stock valued at $171,000 after purchasing an additional 5,359 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Zymeworks in the 3rd quarter worth about $47,000. Assenagon Asset Management S.A. bought a new position in Zymeworks during the 3rd quarter valued at about $4,156,000. nVerses Capital LLC purchased a new stake in shares of Zymeworks during the 3rd quarter valued at about $79,000. Finally, Ritholtz Wealth Management grew its stake in shares of Zymeworks by 52.4% in the third quarter. Ritholtz Wealth Management now owns 70,169 shares of the company’s stock worth $881,000 after acquiring an additional 24,136 shares during the period. 92.89% of the stock is owned by institutional investors.

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.