Zymeworks Inc. (NASDAQ:ZYME) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Zymeworks Inc. (NASDAQ:ZYME) have received a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $37.8889.

Several research firms have recently issued reports on ZYME. HC Wainwright upped their target price on shares of Zymeworks from $32.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. Truist Financial started coverage on shares of Zymeworks in a research report on Wednesday, December 17th. They set a “buy” rating and a $40.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Zymeworks in a report on Wednesday, January 21st. Wells Fargo & Company raised shares of Zymeworks from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $25.00 to $33.00 in a research report on Friday, December 12th. Finally, Stifel Nicolaus increased their price objective on shares of Zymeworks from $40.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd.

Zymeworks Stock Down 0.5%

ZYME stock opened at $25.80 on Friday. The firm has a market capitalization of $1.90 billion, a PE ratio of -23.89 and a beta of 1.20. Zymeworks has a twelve month low of $9.03 and a twelve month high of $28.49. The stock’s 50 day moving average is $23.61 and its 200-day moving average is $22.32.

Zymeworks (NASDAQ:ZYME) last announced its quarterly earnings results on Saturday, February 14th. The company reported ($0.55) earnings per share (EPS) for the quarter. Zymeworks had a negative return on equity of 26.00% and a negative net margin of 76.56%.The company had revenue of $2.52 million for the quarter.

Insiders Place Their Bets

In other Zymeworks news, CEO Kenneth Galbraith sold 30,424 shares of the company’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $22.67, for a total value of $689,712.08. Following the completion of the transaction, the chief executive officer owned 226,842 shares in the company, valued at $5,142,508.14. This represents a 11.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Andrew Moore sold 9,560 shares of the firm’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $22.67, for a total value of $216,725.20. Following the sale, the insider directly owned 48,497 shares of the company’s stock, valued at approximately $1,099,426.99. This represents a 16.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 140,405 shares of company stock valued at $3,389,509. Insiders own 33.51% of the company’s stock.

Hedge Funds Weigh In On Zymeworks

Several institutional investors have recently added to or reduced their stakes in ZYME. Optiver Holding B.V. purchased a new stake in Zymeworks during the third quarter worth about $26,000. Caitong International Asset Management Co. Ltd purchased a new position in Zymeworks in the fourth quarter valued at about $37,000. Quarry LP purchased a new position in Zymeworks in the third quarter valued at about $50,000. Tower Research Capital LLC TRC grew its position in shares of Zymeworks by 29.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,947 shares of the company’s stock valued at $62,000 after acquiring an additional 1,131 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Zymeworks by 25.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,637 shares of the company’s stock valued at $96,000 after acquiring an additional 731 shares during the period. Institutional investors own 92.89% of the company’s stock.

Zymeworks Company Profile

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.