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

HC Wainwright reissued their neutral rating on shares of Zymeworks (NYSE:ZYME - Free Report) in a report published on Thursday,Benzinga reports. The brokerage currently has a $13.00 price target on the stock.

A number of other analysts have also commented on the stock. TD Cowen started coverage on shares of Zymeworks in a research note on Tuesday, May 20th. They set a "buy" rating for the company. Citigroup upped their target price on Zymeworks from $18.00 to $19.00 and gave the company a "buy" rating in a report on Friday, March 7th. Lifesci Capital started coverage on Zymeworks in a report on Tuesday, March 11th. They issued an "outperform" rating and a $30.00 target price on the stock. Finally, TD Securities started coverage on Zymeworks in a report on Tuesday, May 20th. They issued a "buy" rating on the stock. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $21.00.

Zymeworks Stock Performance

NYSE ZYME traded down $0.06 on Thursday, reaching $12.84. The company's stock had a trading volume of 285,970 shares, compared to its average volume of 583,973. Zymeworks has a twelve month low of $8.83 and a twelve month high of $17.70. The stock has a market cap of $893.02 million, a PE ratio of -8.56 and a beta of 1.19. The firm's 50 day moving average is $12.22 and its two-hundred day moving average is $12.84.

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

Insider Buying and Selling

In other news, Director Ecor1 Capital, Llc acquired 73,953 shares of the company's stock in a transaction that occurred on Wednesday, April 16th. The shares were purchased 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 owned 17,773,727 shares of the company's stock, valued at approximately $198,354,793.32. This represents a 0.42% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders purchased a total of 129,374 shares of company stock valued at $1,460,849 in the last 90 days. Corporate insiders own 1.92% of the company's stock.

Hedge Funds Weigh In On Zymeworks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ZYME. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Zymeworks by 184.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,879,945 shares of the company's stock valued at $46,210,000 after purchasing an additional 2,514,834 shares during the last quarter. EcoR1 Capital LLC boosted its position in shares of Zymeworks by 14.8% in the first quarter. EcoR1 Capital LLC now owns 17,259,548 shares of the company's stock valued at $205,561,000 after acquiring an additional 2,231,469 shares during the period. Blackstone Inc. boosted its position in shares of Zymeworks by 2,171.4% in the fourth quarter. Blackstone Inc. now owns 569,715 shares of the company's stock valued at $8,341,000 after acquiring an additional 544,633 shares during the period. Walleye Capital LLC bought a new stake in shares of Zymeworks in the fourth quarter valued at approximately $6,629,000. Finally, Schroder Investment Management Group bought a new stake in shares of Zymeworks in the fourth quarter valued at approximately $4,892,000. Institutional investors and hedge funds 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.