Short Interest in Zymeworks Inc. (NASDAQ:ZYME) Drops By 29.8%

Zymeworks Inc. (NASDAQ:ZYME) was the recipient of a large decrease in short interest in December. As of December 15th, there was short interest totaling 3,938,970 shares, a decrease of 29.8% from the November 30th total of 5,609,170 shares. Based on an average daily volume of 693,921 shares, the days-to-cover ratio is presently 5.7 days. Currently, 7.9% of the shares of the stock are sold short. Currently, 7.9% of the shares of the stock are sold short. Based on an average daily volume of 693,921 shares, the days-to-cover ratio is presently 5.7 days.

Wall Street Analyst Weigh In

ZYME has been the topic of several analyst reports. HC Wainwright raised shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 14th. Zacks Research cut shares of Zymeworks from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 26th. Wall Street Zen cut Zymeworks from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Citizens Jmp upgraded shares of Zymeworks to a “strong-buy” rating in a report on Wednesday, December 3rd. Finally, Truist Financial raised shares of Zymeworks to a “strong-buy” rating in a report on Wednesday, December 17th. Four analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $33.00.

Zymeworks Stock Up 0.0%

Shares of NASDAQ ZYME opened at $26.87 on Monday. The company has a market capitalization of $2.01 billion, a PE ratio of -31.99 and a beta of 1.26. The stock’s 50 day moving average is $22.86. Zymeworks has a 1-year low of $9.03 and a 1-year high of $28.49.

Zymeworks (NASDAQ:ZYME) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.04. Zymeworks had a negative net margin of 47.16% and a negative return on equity of 19.25%. The firm had revenue of $27.61 million for the quarter, compared to analysts’ expectations of $28.27 million.

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.