HC Wainwright Reiterates Neutral Rating for Zymeworks (NYSE:ZYME)

HC Wainwright restated their neutral rating on shares of Zymeworks (NYSE:ZYME - Free Report) in a research note published on Tuesday morning, Benzinga reports. The firm currently has a $10.00 price objective on the stock.

ZYME has been the topic of several other research reports. Wells Fargo & Company cut their price target on shares of Zymeworks from $14.00 to $12.00 and set an overweight rating on the stock in a report on Friday. Citigroup dropped their price objective on shares of Zymeworks from $17.00 to $16.00 and set a buy rating on the stock in a research note on Friday.

Zymeworks Stock Up 0.7 %

Shares of ZYME stock traded up $0.06 during trading hours on Tuesday, hitting $9.12. 595,138 shares of the company were exchanged, compared to its average volume of 590,505. The firm has a market cap of $644.88 million, a PE ratio of -5.06 and a beta of 1.16. Zymeworks has a 1 year low of $6.01 and a 1 year high of $13.14. The firm has a fifty day moving average of $10.06 and a 200 day moving average of $9.74.

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, topping the consensus estimate of ($0.39) by $0.19. Zymeworks had a negative net margin of 249.63% and a negative return on equity of 28.37%. The business had revenue of $16.93 million for the quarter, compared to analyst estimates of $18.32 million. Analysts expect that Zymeworks will post -1.04 earnings per share for the current year.

Institutional Trading of Zymeworks

Institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its holdings in Zymeworks by 177.9% in the third quarter. Wellington Management Group LLP now owns 156,682 shares of the company's stock valued at $993,000 after buying an additional 100,304 shares during the last quarter. Acadian Asset Management LLC increased its holdings in Zymeworks by 742.4% in the third quarter. Acadian Asset Management LLC now owns 825,988 shares of the company's stock valued at $5,233,000 after buying an additional 727,934 shares during the last quarter. Ritholtz Wealth Management bought a new stake in Zymeworks in the fourth quarter valued at about $329,000. Swiss National Bank increased its holdings in Zymeworks by 11.2% in the third quarter. Swiss National Bank now owns 77,600 shares of the company's stock valued at $492,000 after buying an additional 7,800 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased 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 valued at $1,201,000 after buying an additional 148,212 shares during the last quarter. 92.89% of the stock is owned by institutional investors and hedge funds.

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.