Zymeworks (NYSE:ZYME) Reaches New 1-Year High at $13.14

Zymeworks Inc. (NYSE:ZYME)’s stock price hit a new 52-week high on Thursday . The company traded as high as $13.14 and last traded at $13.06, with a volume of 400162 shares. The stock had previously closed at $12.52.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. HC Wainwright reissued a “neutral” rating and issued a $10.00 price target on shares of Zymeworks in a report on Wednesday. Stifel Nicolaus upped their price objective on shares of Zymeworks from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, August 2nd.

Zymeworks Price Performance

The firm has a market capitalization of $922.70 million, a PE ratio of -6.99 and a beta of 1.19. The company’s fifty day simple moving average is $10.91 and its 200 day simple moving average is $9.88.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $19.24 million for the quarter, compared to the consensus estimate of $23.16 million. During the same period in the prior year, the firm posted ($0.76) earnings per share. On average, analysts anticipate that Zymeworks Inc. 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 modified their holdings of ZYME. AlphaMark Advisors LLC purchased a new stake in shares of Zymeworks in the first quarter worth about $32,000. Quest Partners LLC lifted its holdings in shares of Zymeworks by 8,049.6% in 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 in the last quarter. MQS Management LLC purchased a new stake in shares of Zymeworks in the second quarter worth about $92,000. Arizona State Retirement System increased its position in shares of Zymeworks by 11.1% in the second quarter. Arizona State Retirement System now owns 12,841 shares of the company’s stock worth $109,000 after purchasing an additional 1,285 shares during the last quarter. Finally, Tocqueville Asset Management L.P. bought a new position in shares of Zymeworks in the first quarter worth approximately $117,000. 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.