Zymeworks (NASDAQ:ZYME) Shares Up 5.5% – Here’s What Happened

Shares of Zymeworks Inc. (NASDAQ:ZYME) traded up 5.5% during mid-day trading on Thursday . The stock traded as high as $23.98 and last traded at $23.85. 1,058,690 shares traded hands during mid-day trading, an increase of 60% from the average session volume of 663,603 shares. The stock had previously closed at $22.60.

Analyst Upgrades and Downgrades

ZYME has been the topic of several research analyst reports. HC Wainwright raised Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. Wells Fargo & Company raised shares of Zymeworks to a “hold” rating in a report on Friday, October 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zymeworks in a research note on Wednesday, October 8th. B. Riley upgraded Zymeworks to a “strong-buy” rating in a research note on Thursday, October 9th. Finally, Zacks Research upgraded Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. Three equities research analysts have rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Zymeworks currently has an average rating of “Buy”.

Zymeworks Stock Up 0.8%

The stock’s fifty day moving average price is $18.19. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of -24.76 and a beta of 1.48.

Zymeworks (NASDAQ:ZYME) last released its earnings results on Thursday, November 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.04. The firm had revenue of $27.61 million during the quarter, compared to analysts’ expectations of $28.27 million. Zymeworks had a negative return on equity of 21.59% and a negative net margin of 59.96%.

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 novel bispecific antibody that is in Phase 1 and Phase 2 clinical trials for the treatment of biliary tract, gastroesophageal adenocarcinomas, and breast cancer; and ZW49, a biparatopic anti- human epidermal growth factor receptor 2 (HER2) antibody-drug conjugate that is in Phase 1 clinical trial for the treatment of advanced or metastatic HER2-expressing tumors.