Zymeworks (NYSE:ZYME) Stock Price Up 3.5%

Zymeworks Inc. (NYSE:ZYME - Get Free Report) shot up 3.5% during mid-day trading on Friday . The company traded as high as $8.97 and last traded at $8.97. 36,851 shares were traded during trading, a decline of 93% from the average session volume of 562,782 shares. The stock had previously closed at $8.67.

Zymeworks Stock Up 2.1 %

The stock has a 50-day simple moving average of $10.76 and a two-hundred day simple moving average of $9.54. The firm has a market cap of $624.54 million, a PE ratio of -5.09 and a beta of 1.14.

Zymeworks (NYSE:ZYME - Get Free Report) last announced its quarterly earnings data on Wednesday, March 6th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.19. Zymeworks had a negative return on equity of 26.20% and a negative net margin of 156.12%. The firm had revenue of $16.93 million during the quarter, compared to the consensus estimate of $18.32 million. Research analysts expect that Zymeworks Inc. will post -1.04 earnings per share for the current year.

Hedge Funds Weigh In On Zymeworks

Several hedge funds and other institutional investors have recently modified their holdings of ZYME. Wellington Management Group LLP raised its stake in Zymeworks by 177.9% in the third quarter. Wellington Management Group LLP now owns 156,682 shares of the company's stock worth $993,000 after buying an additional 100,304 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Zymeworks by 742.4% in the 3rd quarter. Acadian Asset Management LLC now owns 825,988 shares of the company's stock valued at $5,233,000 after purchasing an additional 727,934 shares during the period. Ritholtz Wealth Management bought a new stake in shares of Zymeworks during the fourth quarter valued at approximately $329,000. Swiss National Bank grew its stake in Zymeworks by 11.2% in the third quarter. Swiss National Bank now owns 77,600 shares of the company's stock worth $492,000 after purchasing an additional 7,800 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in Zymeworks by 359.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 189,444 shares of the company's stock worth $1,201,000 after purchasing an additional 148,212 shares in the last quarter. 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.