Zymeworks (NYSE:ZYME) Rating Reiterated by HC Wainwright

HC Wainwright restated their neutral rating on shares of Zymeworks (NYSE:ZYME) in a research report sent to investors on Tuesday morning, Benzinga reports. HC Wainwright currently has a $12.00 price target on the stock.

Separately, Stifel Nicolaus upped their price objective on Zymeworks from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd.

Zymeworks Trading Up 0.1 %

ZYME stock opened at $12.93 on Tuesday. The firm has a market cap of $914.22 million, a P/E ratio of -7.22 and a beta of 1.20. The stock’s 50 day simple moving average is $12.33 and its 200 day simple moving average is $10.30. Zymeworks has a 12-month low of $6.51 and a 12-month high of $14.05.

Zymeworks (NYSE:ZYME) last issued its earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.01. The firm had revenue of $19.24 million for the quarter, compared to analysts’ expectations of $23.16 million. Zymeworks had a negative net margin of 179.42% and a negative return on equity of 21.97%. During the same quarter last year, the company posted ($0.76) earnings per share. On average, research analysts forecast that Zymeworks will post -0.85 EPS for the current fiscal year.

Hedge Funds Weigh In On Zymeworks

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Zymeworks during the 1st quarter worth $6,301,000. Perceptive Advisors LLC lifted its position in Zymeworks by 55.2% in the second quarter. Perceptive Advisors LLC now owns 1,667,711 shares of the company’s stock worth $14,192,000 after purchasing an additional 592,904 shares during the period. Rubric Capital Management LP boosted its stake in Zymeworks by 12.7% during the 2nd quarter. Rubric Capital Management LP now owns 3,917,331 shares of the company’s stock valued at $33,336,000 after purchasing an additional 441,947 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Zymeworks by 127.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 715,632 shares of the company’s stock valued at $6,090,000 after purchasing an additional 401,068 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Zymeworks by 94.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 716,482 shares of the company’s stock worth $7,537,000 after buying an additional 348,441 shares in the last quarter. 92.89% of the stock is owned by institutional investors.

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.