Zymeworks (NYSE:ZYME) Now Covered by Analysts at TD Securities

Investment analysts at TD Securities initiated coverage on shares of Zymeworks (NYSE:ZYME) in a report released on Tuesday,Benzinga reports. The brokerage set a “buy” rating on the stock.

A number of other equities analysts also recently weighed in on the stock. Citigroup boosted their target price on shares of Zymeworks from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. HC Wainwright boosted their price objective on shares of Zymeworks from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Monday, March 10th. Lifesci Capital began coverage on Zymeworks in a research report on Tuesday, March 11th. They issued an “outperform” rating and a $30.00 price objective on the stock. Finally, TD Cowen assumed coverage on Zymeworks in a research note on Tuesday. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Zymeworks Trading Up 4.7%

NYSE ZYME traded up $0.55 during trading hours on Tuesday, reaching $12.37. 96,797 shares of the company’s stock were exchanged, compared to its average volume of 596,777. The firm has a fifty day moving average of $11.81 and a 200-day moving average of $13.37. Zymeworks has a one year low of $8.21 and a one year high of $17.70. The stock has a market cap of $860.67 million, a PE ratio of -8.26 and a beta of 1.24.

Zymeworks (NYSE:ZYME) last announced its earnings results on Thursday, May 8th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $20.65 million. During the same quarter in the prior year, the business earned ($0.42) earnings per share. The business’s revenue for the quarter was up 170.3% on a year-over-year basis. As a group, research analysts forecast that Zymeworks will post -1.39 EPS for the current year.

Insider Buying and Selling at Zymeworks

In other news, Director Ecor1 Capital, Llc purchased 22,689 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was bought at an average price of $13.08 per share, with a total value of $296,772.12. Following the acquisition, the director now directly owns 17,157,802 shares of the company’s stock, valued at approximately $224,424,050.16. This represents a 0.13% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders have purchased 1,405,768 shares of company stock valued at $16,773,032. 1.92% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zymeworks

Several institutional investors have recently modified their holdings of the business. Sterling Capital Management LLC lifted its position in Zymeworks by 781.5% in the 4th quarter. Sterling Capital Management LLC now owns 1,719 shares of the company’s stock valued at $25,000 after acquiring an additional 1,524 shares in the last quarter. CWM LLC grew its position in shares of Zymeworks by 1,091.2% in the first quarter. CWM LLC now owns 2,299 shares of the company’s stock valued at $27,000 after purchasing an additional 2,106 shares during the last quarter. AlphaQuest LLC boosted its holdings in Zymeworks by 480.2% in the 4th quarter. AlphaQuest LLC now owns 2,808 shares of the company’s stock valued at $41,000 after purchasing an additional 2,324 shares during the period. GAMMA Investing LLC increased its position in shares of Zymeworks by 1,113.3% in the first quarter. GAMMA Investing LLC now owns 6,467 shares of the company’s stock worth $77,000 after purchasing an additional 5,934 shares during the period. Finally, BNP Paribas Financial Markets bought a new position in shares of Zymeworks in the 4th quarter valued at $108,000. Institutional investors own 92.89% of the company’s stock.

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.