Zymeworks (NYSE:ZYME) Now Covered by Analysts at TD Cowen

TD Cowen started coverage on shares of Zymeworks (NYSE:ZYME - Free Report) in a report published on Tuesday, MarketBeat Ratings reports. The firm issued a buy rating on the stock.

Other research analysts have also recently issued research reports about the stock. Lifesci Capital began coverage on shares of Zymeworks in a research report on Tuesday, March 11th. They set an "outperform" rating and a $30.00 price target on the stock. HC Wainwright boosted their price objective on shares of Zymeworks from $12.00 to $13.00 and gave the company a "neutral" rating in a report on Monday, March 10th. Finally, Citigroup boosted their price objective on shares of Zymeworks from $18.00 to $19.00 and gave the company a "buy" rating in a report on Friday, March 7th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $21.00.

Zymeworks Stock Up 0.5%

Shares of NYSE ZYME traded up $0.06 during midday trading on Tuesday, reaching $11.54. 349,420 shares of the stock were exchanged, compared to its average volume of 600,617. The firm has a market cap of $802.92 million, a price-to-earnings ratio of -7.69 and a beta of 1.24. Zymeworks has a twelve month low of $8.21 and a twelve month high of $17.70. The firm has a 50-day simple moving average of $11.76 and a two-hundred day simple moving average of $13.30.

Zymeworks (NYSE:ZYME - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.45) by $0.15. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The firm had revenue of $27.11 million for the quarter, compared to analyst estimates of $20.65 million. During the same quarter last year, the firm posted ($0.42) EPS. The business's revenue was up 170.3% on a year-over-year basis. Research analysts expect that Zymeworks will post -1.39 EPS for the current fiscal year.

Insider Transactions at Zymeworks

In other news, Director Ecor1 Capital, Llc acquired 73,953 shares of the business's stock in a transaction dated Wednesday, April 16th. The stock was acquired at an average price of $11.16 per share, for a total transaction of $825,315.48. Following the completion of the acquisition, the director now directly owns 17,773,727 shares in the company, valued at $198,354,793.32. This represents a 0.42% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders bought 1,405,768 shares of company stock worth $16,773,032. 1.92% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ZYME. Barclays PLC grew its stake in Zymeworks by 476.3% in the third quarter. Barclays PLC now owns 154,384 shares of the company's stock valued at $1,937,000 after purchasing an additional 127,595 shares in the last quarter. SG Americas Securities LLC grew its stake in Zymeworks by 30.4% in the fourth quarter. SG Americas Securities LLC now owns 26,782 shares of the company's stock valued at $392,000 after purchasing an additional 6,239 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in Zymeworks by 6.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,605 shares of the company's stock valued at $214,000 after purchasing an additional 940 shares in the last quarter. Empowered Funds LLC grew its stake in Zymeworks by 5.1% in the fourth quarter. Empowered Funds LLC now owns 352,753 shares of the company's stock valued at $5,164,000 after purchasing an additional 17,092 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in Zymeworks by 18.1% in the fourth quarter. Rhumbline Advisers now owns 103,876 shares of the company's stock valued at $1,521,000 after purchasing an additional 15,920 shares in the last quarter. 92.89% of the stock is owned by institutional investors and hedge funds.

About Zymeworks

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.