Zymeworks (NASDAQ:ZYME) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Zymeworks Inc. (NASDAQ:ZYME) saw unusually-high trading volume on Monday . Approximately 872,489 shares traded hands during mid-day trading, an increase of 30% from the previous session’s volume of 670,934 shares.The stock last traded at $24.20 and had previously closed at $24.02.

Analyst Ratings Changes

Several research firms have issued reports on ZYME. Zacks Research raised Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 28th. B. Riley raised Zymeworks to a “strong-buy” rating in a research note on Thursday, October 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zymeworks in a report on Wednesday, October 8th. HC Wainwright upgraded Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 14th. Finally, Wall Street Zen cut Zymeworks from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Three investment analysts have rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy”.

Zymeworks Trading Up 4.4%

The company has a market capitalization of $2.05 billion, a PE ratio of -28.17 and a beta of 1.48. The business’s 50 day moving average price is $18.58.

Zymeworks (NASDAQ:ZYME) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.04. Zymeworks had a negative return on equity of 21.59% and a negative net margin of 59.96%.The company had revenue of $27.61 million during the quarter, compared to analysts’ expectations of $28.27 million.

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 novel bispecific antibody that is in Phase 1 and Phase 2 clinical trials for the treatment of biliary tract, gastroesophageal adenocarcinomas, and breast cancer; and ZW49, a biparatopic anti- human epidermal growth factor receptor 2 (HER2) antibody-drug conjugate that is in Phase 1 clinical trial for the treatment of advanced or metastatic HER2-expressing tumors.