Zymeworks’ (ZYME) “Neutral” Rating Reaffirmed at HC Wainwright

HC Wainwright restated their neutral rating on shares of Zymeworks (NYSE:ZYME) in a research note released on Tuesday, Benzinga reports. The brokerage currently has a $10.00 target price on the stock.

ZYME has been the topic of several other reports. Wells Fargo & Company dropped their price target on Zymeworks from $14.00 to $12.00 and set an overweight rating on the stock in a research report on Friday, May 3rd. Citigroup lowered their price objective on shares of Zymeworks from $17.00 to $16.00 and set a buy rating for the company in a research report on Friday, May 3rd.

Zymeworks Trading Up 0.7 %

Shares of ZYME stock opened at $9.12 on Tuesday. The firm has a fifty day simple moving average of $9.98 and a 200-day simple moving average of $9.76. The company has a market capitalization of $644.88 million, a PE ratio of -5.09 and a beta of 1.16. Zymeworks has a twelve month low of $6.01 and a twelve month high of $13.14.

Zymeworks (NYSE:ZYME) last released its quarterly earnings results on Wednesday, March 6th. The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.19. The business had revenue of $16.93 million during the quarter, compared to the consensus estimate of $18.32 million. Zymeworks had a negative net margin of 249.63% and a negative return on equity of 28.37%. Equities research analysts predict that Zymeworks will post -1.04 EPS for the current year.

Institutional Investors Weigh In On Zymeworks

Several hedge funds have recently bought and sold shares of the business. AlphaMark Advisors LLC purchased a new stake in shares of Zymeworks during the first quarter worth $32,000. Gladius Capital Management LP grew its stake in shares of Zymeworks by 36.5% in the 3rd quarter. Gladius Capital Management LP now owns 3,940 shares of the company’s stock valued at $25,000 after buying an additional 1,053 shares in the last quarter. New York State Teachers Retirement System acquired a new position in Zymeworks in the fourth quarter worth approximately $50,000. AJOVista LLC bought a new position in Zymeworks during the fourth quarter valued at approximately $66,000. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in Zymeworks in the fourth quarter valued at approximately $84,000. 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.