Zymeworks (NYSE:ZYME) Receives Neutral Rating from HC Wainwright

HC Wainwright reaffirmed their neutral rating on shares of Zymeworks (NYSE:ZYME) in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a $10.00 price objective on the stock.

Separately, Stifel Nicolaus upped their price target on shares of Zymeworks from $20.00 to $21.00 and gave the stock a buy rating in a research report on Friday, August 2nd.

Zymeworks Trading Up 0.3 %

NYSE ZYME opened at $13.09 on Wednesday. The stock has a market capitalization of $925.53 million, a price-to-earnings ratio of -7.31 and a beta of 1.19. The stock has a 50-day moving average of $11.03 and a 200 day moving average of $9.89. Zymeworks has a twelve month low of $6.01 and a twelve month high of $13.23.

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

Institutional Investors Weigh In On Zymeworks

Hedge funds have recently modified their holdings of the business. Rubric Capital Management LP grew its stake in Zymeworks by 31.1% during the 4th quarter. Rubric Capital Management LP now owns 3,475,384 shares of the company’s stock valued at $36,109,000 after acquiring an additional 823,990 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Zymeworks during the first quarter worth approximately $6,301,000. Perceptive Advisors LLC grew its holdings in Zymeworks by 55.2% in the 2nd quarter. Perceptive Advisors LLC now owns 1,667,711 shares of the company’s stock valued at $14,192,000 after buying an additional 592,904 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Zymeworks by 127.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 715,632 shares of the company’s stock worth $6,090,000 after acquiring an additional 401,068 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Zymeworks by 94.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 716,482 shares of the company’s stock worth $7,537,000 after acquiring an additional 348,441 shares during the period. 92.89% of the stock is currently owned by institutional investors and hedge funds.

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.