Zymeworks (NYSE:ZYME) Trading 7% Higher - Should You Buy?

Zymeworks Inc. (NYSE:ZYME - Get Free Report) shares traded up 7% on Thursday . The stock traded as high as $14.26 and last traded at $14.46. 43,350 shares were traded during trading, a decline of 92% from the average session volume of 574,926 shares. The stock had previously closed at $13.52.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. HC Wainwright reiterated a "neutral" rating and set a $13.00 target price on shares of Zymeworks in a research note on Thursday, July 3rd. TD Cowen assumed coverage on shares of Zymeworks in a research note on Tuesday, May 20th. They set a "buy" rating for the company. Finally, TD Securities started coverage on shares of Zymeworks in a research note on Tuesday, May 20th. They set a "buy" rating for the company. Two investment 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 company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $21.00.

Zymeworks Stock Performance

The stock's 50-day moving average price is $12.34 and its 200-day moving average price is $12.81. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -9.65 and a beta of 1.19.

Zymeworks (NYSE:ZYME - Get Free Report) last posted its quarterly 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 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 the consensus estimate of $20.65 million. During the same period last year, the firm earned ($0.42) EPS. The company's revenue for the quarter was up 170.3% on a year-over-year basis. Analysts anticipate that Zymeworks Inc. will post -1.39 earnings per share for the current year.

Insider Activity

In related news, Director Ecor1 Capital, Llc purchased 5,919 shares of Zymeworks stock in a transaction dated Monday, May 19th. The stock was bought at an average cost of $11.78 per share, for a total transaction of $69,725.82. Following the transaction, the director owned 17,883,908 shares in the company, valued at approximately $210,672,436.24. The trade was a 0.03% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.92% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new stake in Zymeworks in the 4th quarter worth approximately $888,000. AlphaQuest LLC grew its stake in Zymeworks by 480.2% in the 4th quarter. AlphaQuest LLC now owns 2,808 shares of the company's stock worth $41,000 after acquiring an additional 2,324 shares during the period. Commonwealth Equity Services LLC grew its stake in Zymeworks by 16.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 30,960 shares of the company's stock worth $453,000 after acquiring an additional 4,294 shares during the period. Teacher Retirement System of Texas grew its stake in Zymeworks by 19.2% in the 4th quarter. Teacher Retirement System of Texas now owns 13,743 shares of the company's stock worth $201,000 after acquiring an additional 2,216 shares during the period. Finally, American Century Companies Inc. purchased a new stake in Zymeworks in the 4th quarter worth approximately $585,000. 92.89% of the stock is currently 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.

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