Zymeworks (ZYME) to Release Earnings on Thursday

Key Points

• Zymeworks is expected to release its earnings on Thursday, August 7th, with analysts projecting a loss of ($0.52) per share and revenue of $17.18 million for the quarter.
($0.30) per share and revenue of $27.11 million, exceeding expectations significantly.
• Institutional ownership is substantial, with 92.89% of the stock held by institutional investors and hedge funds, indicating strong market interest.

Zymeworks (NYSE:ZYME - Get Free Report) is projected to announce its earnings results after the market closes on Thursday, August 7th. Analysts expect the company to announce earnings of ($0.52) per share and revenue of $17.18 million for the quarter.

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, topping 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 company had revenue of $27.11 million for the quarter, compared to the consensus estimate of $20.65 million. During the same quarter in the previous year, the business earned ($0.42) EPS. The company's quarterly revenue was up 170.3% compared to the same quarter last year. On average, analysts expect Zymeworks to post $-1 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

Zymeworks Price Performance

Shares of ZYME traded up $0.01 during midday trading on Friday, reaching $12.57. The stock had a trading volume of 637,973 shares, compared to its average volume of 537,092. Zymeworks has a 52 week low of $9.03 and a 52 week high of $17.70. The firm's 50 day moving average price is $12.82 and its 200-day moving average price is $12.75. The company has a market capitalization of $875.92 million, a P/E ratio of -8.38 and a beta of 1.19.

Insiders Place Their Bets

In other Zymeworks news, Director Ecor1 Capital, Llc purchased 49,502 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The shares were purchased at an average cost of $11.43 per share, with a total value of $565,807.86. Following the completion of the transaction, the director owned 17,877,989 shares of the company's stock, valued at approximately $204,345,414.27. This represents a 0.28% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.92% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Jane Street Group LLC grew its stake in Zymeworks by 487.0% in the first quarter. Jane Street Group LLC now owns 135,763 shares of the company's stock valued at $1,617,000 after purchasing an additional 112,636 shares in the last quarter. AQR Capital Management LLC grew its stake in Zymeworks by 86.0% in the first quarter. AQR Capital Management LLC now owns 48,485 shares of the company's stock valued at $577,000 after purchasing an additional 22,411 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Zymeworks by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,385 shares of the company's stock valued at $386,000 after purchasing an additional 1,427 shares in the last quarter. Hedge funds and other institutional investors own 92.89% of the company's stock.

Analyst Upgrades and Downgrades

ZYME has been the topic of a number of research reports. HC Wainwright reissued a "neutral" rating and issued a $13.00 price objective on shares of Zymeworks in a research note on Thursday, July 3rd. TD Securities started coverage on Zymeworks in a research report on Tuesday, May 20th. They set a "buy" rating on the stock. Finally, TD Cowen started coverage on Zymeworks in a research report on Tuesday, May 20th. They set a "buy" rating on the stock. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $21.00.

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.