Zymeworks (NASDAQ:ZYME) Releases Earnings Results, Misses Estimates By $0.20 EPS

Zymeworks (NASDAQ:ZYME) issued its earnings results on Monday. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.20), FiscalAI reports. The company had revenue of $2.52 million for the quarter. Zymeworks had a negative return on equity of 19.25% and a negative net margin of 47.16%.

Zymeworks Price Performance

Shares of NASDAQ ZYME opened at $23.29 on Monday. Zymeworks has a 1-year low of $9.03 and a 1-year high of $28.49. The business’s 50 day moving average is $23.98 and its two-hundred day moving average is $20.81. The stock has a market capitalization of $1.74 billion, a P/E ratio of -27.73 and a beta of 1.23.

Wall Street Analyst Weigh In

Several research analysts have commented on ZYME shares. Wall Street Zen downgraded shares of Zymeworks from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Citizens Jmp set a $32.00 target price on Zymeworks in a report on Wednesday, December 3rd. Wells Fargo & Company raised Zymeworks from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $25.00 to $33.00 in a research note on Friday, December 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Zymeworks in a report on Wednesday, January 21st. Finally, Leerink Partners set a $37.00 price objective on Zymeworks in a research note on Monday, November 17th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Zymeworks presently has a consensus rating of “Moderate Buy” and an average target price of $32.90.

Insider Buying and Selling

In related news, insider Paul Andrew Moore sold 20,110 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $25.10, for a total value of $504,761.00. Following the completion of the sale, the insider directly owned 31,212 shares in the company, valued at $783,421.20. This trade represents a 39.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Mark Hollywood sold 6,120 shares of Zymeworks stock in a transaction on Monday, January 12th. The stock was sold at an average price of $22.67, for a total transaction of $138,740.40. Following the transaction, the chief operating officer directly owned 132,913 shares of the company’s stock, valued at $3,013,137.71. The trade was a 4.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 187,933 shares of company stock worth $4,673,716 in the last 90 days. Company insiders own 33.51% of the company’s stock.

Institutional Investors Weigh In On Zymeworks

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP purchased a new position in shares of Zymeworks during the 3rd quarter worth about $50,000. Caitong International Asset Management Co. Ltd bought a new stake in Zymeworks in the fourth quarter worth about $55,000. Tower Research Capital LLC TRC boosted its position in shares of Zymeworks by 29.6% during the second quarter. Tower Research Capital LLC TRC now owns 4,947 shares of the company’s stock valued at $62,000 after buying an additional 1,131 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Zymeworks by 157.7% during the second quarter. BNP Paribas Financial Markets now owns 10,307 shares of the company’s stock valued at $129,000 after buying an additional 6,307 shares during the last quarter. Finally, Brevan Howard Capital Management LP bought a new position in shares of Zymeworks during the second quarter valued at approximately $133,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

About Zymeworks

Zymeworks Inc is a clinical-stage biopharmaceutical company dedicated to the discovery, development and commercialization of next-generation multifunctional biotherapeutics. The company specializes in engineered antibody and protein therapeutics designed to address a range of unmet medical needs in oncology and other serious diseases. Through its proprietary platforms, Zymeworks aims to create novel bispecific and multispecific molecules that can simultaneously engage multiple targets and recruit immune effector functions to enhance potency and specificity.

At the core of Zymeworks’ innovation is its Azymetric™ bispecific antibody platform, which enables the design of asymmetrical bispecific antibodies with controlled assembly and high stability.