Zymeworks Inc. (ZYME) – What Are Researchers Thinking About This Stock?

Shares of Zymeworks Inc. (NASDAQ:ZYME) have been given an average recommendation of “Moderate Buy” by the thirteen ratings firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $40.64.

Several research firms have recently commented on ZYME. Wells Fargo & Company upped their price target on Zymeworks from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. B. Riley Financial reiterated a “buy” rating and issued a $44.00 price objective (up from $40.00) on shares of Zymeworks in a research report on Monday, August 10th. JPMorgan Chase & Co. boosted their price objective on shares of Zymeworks from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, September 3rd. Stifel Nicolaus set a $46.00 price objective on shares of Zymeworks in a research report on Friday, August 7th. Finally, Deutsche Bank Aktiengesellschaft set a $32.00 price objective on shares of Zymeworks in a research report on Wednesday, August 26th.

Insider Buying and Selling at Zymeworks

In other news, EVP Adam Schayowitz sold 13,832 shares of the business’s stock in a transaction dated Friday, October 9th. The shares were sold at an average price of $25.85, for a total transaction of $357,557.20. Following the transaction, the executive vice president directly owned 23,205 shares in the company, valued at $599,849.25. The trade was a 37.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 33.51% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zymeworks

A number of institutional investors have recently added to or reduced their stakes in the business. Rubric Capital Management LP boosted its stake in Zymeworks by 21.7% in the first quarter. Rubric Capital Management LP now owns 7,000,000 shares of the company’s stock worth $175,280,000 after buying an additional 1,250,000 shares in the last quarter. BlackRock Inc. purchased a new position in shares of Zymeworks during the second quarter worth approximately $111,122,000. Perceptive Advisors LLC raised its stake in shares of Zymeworks by 7.6% during the first quarter. Perceptive Advisors LLC now owns 3,510,078 shares of the company’s stock worth $87,892,000 after acquiring an additional 248,228 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Zymeworks by 72.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,252,027 shares of the company’s stock worth $32,728,000 after acquiring an additional 524,041 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Zymeworks by 6.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 743,898 shares of the company’s stock worth $18,627,000 after acquiring an additional 43,896 shares during the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Zymeworks Trading Down 1.2%

NASDAQ ZYME opened at $24.77 on Thursday. Zymeworks has a 1-year low of $16.00 and a 1-year high of $31.34. The company has a market capitalization of $1.76 billion, a PE ratio of -12.26 and a beta of 1.17. The firm’s fifty day simple moving average is $26.78 and its 200-day simple moving average is $25.63.

Zymeworks (NASDAQ:ZYME) last posted its quarterly earnings results on Friday, August 7th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.06). The company had revenue of $3.23 million during the quarter, compared to the consensus estimate of $4.54 million. Zymeworks had a negative net margin of 405.31% and a negative return on equity of 72.30%. The firm’s revenue for the quarter was down 90.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 earnings per share. As a group, analysts predict that Zymeworks will post 1.20 EPS for the current year.

Zymeworks Company Profile

Zymeworks Inc (NASDAQ: ZYME) is a biopharmaceutical company focused on discovering, developing and commercializing engineered antibody-based therapeutics for cancer and other serious diseases. The company’s technologies are designed to create bispecific and multispecific antibodies, as well as antibody-drug conjugates that can target tumor cells and deliver therapeutic payloads.

Zymeworks’ leading product is zanidatamab, marketed in the United States as Ziihera. The bispecific antibody targets two separate sites on the HER2 protein and received U.S.