Zymeworks (NYSE:ZYME) Rating Reiterated by HC Wainwright

Zymeworks (NYSE:ZYME)‘s stock had its “neutral” rating reiterated by investment analysts at HC Wainwright in a research report issued on Tuesday, Benzinga reports. They presently have a $10.00 price objective on the stock. HC Wainwright’s price target suggests a potential upside of 10.38% from the company’s previous close.

ZYME has been the subject of a number of other reports. Citigroup decreased their price objective on Zymeworks from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Wells Fargo & Company reduced their price objective on shares of Zymeworks from $14.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd.

Zymeworks Trading Down 0.7 %

NYSE ZYME opened at $9.06 on Tuesday. The company has a fifty day simple moving average of $9.92 and a 200 day simple moving average of $9.75. Zymeworks has a 1 year low of $6.01 and a 1 year high of $13.14. The company has a market cap 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 data on Wednesday, March 6th. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.19. Zymeworks had a negative net margin of 249.63% and a negative return on equity of 28.37%. The business had revenue of $16.93 million during the quarter, compared to analyst estimates of $18.32 million. Equities research analysts forecast that Zymeworks will post -1.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Zymeworks

A number of large investors have recently bought and sold shares of the company. ProShare Advisors LLC increased its position in Zymeworks by 11.1% during the 1st quarter. ProShare Advisors LLC now owns 14,952 shares of the company’s stock worth $157,000 after purchasing an additional 1,499 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Zymeworks by 153.3% during the 1st quarter. Russell Investments Group Ltd. now owns 68,388 shares of the company’s stock valued at $719,000 after acquiring an additional 41,384 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Zymeworks in the 1st quarter worth about $579,000. Swiss National Bank boosted its stake in shares of Zymeworks by 12.8% during the first quarter. Swiss National Bank now owns 83,000 shares of the company’s stock valued at $873,000 after purchasing an additional 9,400 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in shares of Zymeworks by 8.2% during the first quarter. Empowered Funds LLC now owns 295,783 shares of the company’s stock worth $3,112,000 after purchasing an additional 22,367 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

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.