Zymeworks (NYSE:ZYME) Receives “Neutral” Rating from HC Wainwright

HC Wainwright reaffirmed their neutral rating on shares of Zymeworks (NYSE:ZYME) in a research note published on Tuesday morning, Benzinga reports. They currently have a $12.00 price objective on the stock.

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

Zymeworks Trading Down 0.2 %

Zymeworks stock opened at $13.14 on Tuesday. The stock has a market cap of $929.06 million, a P/E ratio of -7.34 and a beta of 1.20. The company has a fifty day simple moving average of $12.17 and a 200-day simple moving average of $10.24. Zymeworks has a 12-month low of $6.51 and a 12-month high of $14.05.

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

Institutional Investors Weigh In On Zymeworks

A number of institutional investors and hedge funds have recently made changes to their positions in ZYME. AlphaMark Advisors LLC acquired a new position in shares of Zymeworks during the first quarter worth about $32,000. Quest Partners LLC grew its position in Zymeworks by 8,049.6% during the second quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock worth $78,000 after buying an additional 9,096 shares during the period. nVerses Capital LLC acquired a new position in Zymeworks during the third quarter worth about $79,000. MQS Management LLC acquired a new position in Zymeworks during the second quarter worth about $92,000. Finally, Arizona State Retirement System grew its position in Zymeworks by 11.1% during the second quarter. Arizona State Retirement System now owns 12,841 shares of the company’s stock worth $109,000 after buying an additional 1,285 shares during the period. 92.89% of the stock is owned by hedge funds and other institutional investors.

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.