Zymeworks (NYSE:ZYME) Stock Rating Reaffirmed by HC Wainwright

Zymeworks (NYSE:ZYME)‘s stock had its “neutral” rating reaffirmed by equities research analysts at HC Wainwright in a research note issued on Tuesday, Benzinga reports. They presently have a $10.00 target price on the stock. HC Wainwright’s price target points to a potential upside of 10.38% from the stock’s current price.

A number of other research firms have also commented on ZYME. Wells Fargo & Company decreased 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. Citigroup decreased their target price on Zymeworks from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Friday.

Zymeworks Price Performance

Zymeworks stock opened at $9.06 on Tuesday. The stock has a fifty day moving average price of $10.06 and a two-hundred day moving average price of $9.74. Zymeworks has a 52-week low of $6.01 and a 52-week high of $13.14. The firm has a market capitalization of $640.63 million, a P/E ratio of -5.06 and a beta of 1.16.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings results on Wednesday, March 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.19. The firm 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%. On average, equities research analysts predict that Zymeworks will post -1.04 EPS for the current fiscal year.

Institutional Trading of Zymeworks

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Rubric Capital Management LP increased its holdings in shares of Zymeworks by 31.1% in the fourth quarter. Rubric Capital Management LP now owns 3,475,384 shares of the company’s stock valued at $36,109,000 after purchasing an additional 823,990 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Zymeworks by 742.4% in the third quarter. Acadian Asset Management LLC now owns 825,988 shares of the company’s stock valued at $5,233,000 after acquiring an additional 727,934 shares during the last quarter. AQR Capital Management LLC boosted its stake in Zymeworks by 70.3% in the third quarter. AQR Capital Management LLC now owns 799,679 shares of the company’s stock valued at $5,070,000 after acquiring an additional 330,213 shares during the last quarter. Jupiter Asset Management Ltd. boosted its stake in Zymeworks by 913.0% in the third quarter. Jupiter Asset Management Ltd. now owns 474,724 shares of the company’s stock valued at $3,010,000 after acquiring an additional 427,860 shares during the last quarter. Finally, Monaco Asset Management SAM boosted its stake in Zymeworks by 1.6% in the third quarter. Monaco Asset Management SAM now owns 416,275 shares of the company’s stock valued at $2,639,000 after acquiring an additional 6,755 shares during the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

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.