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

HC Wainwright reaffirmed their neutral rating on shares of Zymeworks (NYSE:ZYME) in a report published on Thursday morning,Benzinga reports. The brokerage currently has a $13.00 price objective on the stock.

ZYME has been the subject of a number of other research reports. TD Securities initiated coverage on Zymeworks in a research report on Tuesday, May 20th. They issued a “buy” rating for the company. TD Cowen initiated coverage on shares of Zymeworks in a report on Tuesday, May 20th. They set a “buy” rating for the company. Citigroup upped their price target on shares of Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a report on Friday, March 7th. Finally, Lifesci Capital initiated coverage on shares of Zymeworks in a research note on Tuesday, March 11th. They set an “outperform” rating and a $30.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Zymeworks Trading Down 0.4%

ZYME stock opened at $12.84 on Thursday. The company’s 50-day moving average price is $12.22 and its 200 day moving average price is $12.85. Zymeworks has a 52 week low of $8.33 and a 52 week high of $17.70. The company has a market cap of $893.02 million, a P/E ratio of -8.56 and a beta of 1.17.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.15. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The business had revenue of $27.11 million for the quarter, compared to analyst estimates of $20.65 million. During the same quarter in the previous year, the company earned ($0.42) EPS. The company’s quarterly revenue was up 170.3% on a year-over-year basis. On average, equities research analysts expect that Zymeworks will post -1.39 earnings per share for the current year.

Insider Activity at Zymeworks

In other news, Director Ecor1 Capital, Llc bought 5,919 shares of the firm’s stock in a transaction that occurred on Monday, May 19th. The shares were purchased at an average price of $11.78 per share, for a total transaction of $69,725.82. Following the completion of the transaction, the director owned 17,883,908 shares in the company, valued at $210,672,436.24. The trade was a 0.03% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have bought 129,374 shares of company stock worth $1,460,849 in the last ninety days. Insiders own 1.92% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ZYME. EcoR1 Capital LLC increased its position in Zymeworks by 14.8% during the first quarter. EcoR1 Capital LLC now owns 17,259,548 shares of the company’s stock worth $205,561,000 after purchasing an additional 2,231,469 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Zymeworks by 184.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,879,945 shares of the company’s stock worth $46,210,000 after buying an additional 2,514,834 shares during the last quarter. Deutsche Bank AG raised its position in shares of Zymeworks by 0.4% in the 1st quarter. Deutsche Bank AG now owns 1,552,612 shares of the company’s stock worth $18,492,000 after buying an additional 5,840 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Zymeworks by 14.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 972,742 shares of the company’s stock valued at $14,240,000 after acquiring an additional 123,240 shares during the last quarter. Finally, Bridgeway Capital Management LLC grew its position in Zymeworks by 1.0% during the first quarter. Bridgeway Capital Management LLC now owns 766,944 shares of the company’s stock valued at $9,134,000 after acquiring an additional 7,291 shares during the period. 92.89% of the stock is currently owned by institutional investors and hedge funds.

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.