Zymeworks (NYSE:ZYME) Issues Earnings Results

Zymeworks (NYSE:ZYME) announced its quarterly earnings data on Thursday. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.02, Briefing.com reports. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%.During the same quarter in the previous year, the business earned ($0.39) earnings per share. The firm’s revenue for the quarter was up 72.6% compared to the same quarter last year.

Zymeworks Stock Down 0.8%

Shares of NYSE ZYME traded down $0.15 during trading on Thursday, reaching $17.90. 1,274,834 shares of the company traded hands, compared to its average volume of 574,056. The firm has a 50 day simple moving average of $16.92 and a 200-day simple moving average of $14.24. Zymeworks has a 52-week low of $9.03 and a 52-week high of $19.98. The stock has a market capitalization of $1.35 billion, a PE ratio of -11.93 and a beta of 1.48.

Institutional Investors Weigh In On Zymeworks

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC raised its stake in Zymeworks by 86.0% during the 1st quarter. AQR Capital Management LLC now owns 48,485 shares of the company’s stock valued at $577,000 after buying an additional 22,411 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Zymeworks by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,385 shares of the company’s stock worth $386,000 after acquiring an additional 1,427 shares during the period. Jane Street Group LLC increased its position in Zymeworks by 487.0% during the first quarter. Jane Street Group LLC now owns 135,763 shares of the company’s stock valued at $1,617,000 after acquiring an additional 112,636 shares during the last quarter. Creative Planning lifted its holdings in Zymeworks by 114.8% in the second quarter. Creative Planning now owns 25,389 shares of the company’s stock valued at $319,000 after acquiring an additional 13,567 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Zymeworks by 1,050.0% in the second quarter. JPMorgan Chase & Co. now owns 441,690 shares of the company’s stock valued at $5,543,000 after acquiring an additional 403,281 shares during the period. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Wall Street Analyst Weigh In

ZYME has been the subject of several analyst reports. B. Riley started coverage on Zymeworks in a report on Friday, October 10th. They set a “buy” rating and a $30.00 price target for the company. Citigroup raised their price objective on shares of Zymeworks from $19.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, August 11th. JPMorgan Chase & Co. upped their target price on shares of Zymeworks from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. HC Wainwright reissued a “buy” rating on shares of Zymeworks in a research report on Monday, October 27th. Finally, Wells Fargo & Company assumed coverage on shares of Zymeworks in a report on Friday, October 24th. They issued an “equal weight” rating and a $15.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Zymeworks has an average rating of “Buy” and a consensus price target of $24.43.

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.