Zymeworks (NYSE:ZYME) Rating Reiterated by HC Wainwright

Zymeworks (NYSE:ZYME)‘s stock had its “neutral” rating reiterated by research analysts at HC Wainwright in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $10.00 price target on the stock. HC Wainwright’s price objective points to a potential downside of 23.37% from the stock’s previous close.

Separately, Stifel Nicolaus boosted their price objective on Zymeworks from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, August 2nd.

Zymeworks Trading Up 4.2 %

NYSE:ZYME opened at $13.05 on Wednesday. Zymeworks has a twelve month low of $6.01 and a twelve month high of $13.14. The company has a market cap of $922.70 million, a PE ratio of -7.29 and a beta of 1.19. The company’s 50 day moving average is $10.91 and its two-hundred day moving average is $9.88.

Zymeworks (NYSE:ZYME) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.01. The company had revenue of $19.24 million during the quarter, compared to analysts’ expectations of $23.16 million. Zymeworks had a negative return on equity of 21.97% and a negative net margin of 179.42%. During the same quarter in the previous year, the firm posted ($0.76) EPS. As a group, analysts expect that Zymeworks will post -0.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its holdings in Zymeworks by 387.5% in the 4th quarter. Russell Investments Group Ltd. now owns 27,004 shares of the company’s stock valued at $281,000 after acquiring an additional 21,465 shares during the last quarter. Rubric Capital Management LP lifted its position in Zymeworks by 31.1% during the fourth quarter. Rubric Capital Management LP now owns 3,475,384 shares of the company’s stock worth $36,109,000 after buying an additional 823,990 shares in the last quarter. Pennant Investors LP purchased a new position in Zymeworks during the fourth quarter worth approximately $402,000. Wellington Management Group LLP boosted its stake in Zymeworks by 31.0% during the fourth quarter. Wellington Management Group LLP now owns 205,246 shares of the company’s stock worth $2,133,000 after buying an additional 48,564 shares during the last quarter. Finally, AlphaMark Advisors LLC purchased a new stake in Zymeworks in the 1st quarter valued at $32,000. Hedge funds and other institutional investors 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.