Zymeworks Inc. (NYSE:ZYME) Receives Consensus Rating of “Buy” from Analysts

Zymeworks Inc. (NYSE:ZYME) has been given a consensus recommendation of “Buy” by the eleven ratings firms that are covering the firm, Marketbeat.com reports. Eleven research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $32.8182.

ZYME has been the topic of a number of recent research reports. Citizens Jmp assumed coverage on shares of Zymeworks in a research note on Wednesday, December 3rd. They set a “market outperform” rating and a $32.00 price target on the stock. HC Wainwright raised their price objective on shares of Zymeworks from $26.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, November 18th. JMP Securities set a $32.00 target price on shares of Zymeworks in a research report on Wednesday, December 3rd. Truist Financial began coverage on shares of Zymeworks in a research report on Wednesday, December 17th. They issued a “buy” rating and a $40.00 price target for the company. Finally, Citigroup assumed coverage on shares of Zymeworks in a research note on Wednesday, December 3rd. They set an “outperform” rating for the company.

Insider Buying and Selling

In related news, insider Paul Andrew Moore sold 20,110 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $25.10, for a total transaction of $504,761.00. Following the completion of the transaction, the insider owned 31,212 shares in the company, valued at $783,421.20. This trade represents a 39.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kenneth Galbraith sold 54,343 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $25.10, for a total value of $1,364,009.30. Following the completion of the sale, the chief executive officer owned 158,286 shares in the company, valued at $3,972,978.60. This trade represents a 25.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 132,519 shares of company stock worth $3,417,481 in the last 90 days. 33.51% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zymeworks

A number of hedge funds have recently made changes to their positions in ZYME. AQR Capital Management LLC boosted its position in Zymeworks by 86.0% in the first quarter. AQR Capital Management LLC now owns 48,485 shares of the company’s stock valued at $577,000 after buying an additional 22,411 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Zymeworks by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,385 shares of the company’s stock valued at $386,000 after acquiring an additional 1,427 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Zymeworks by 2.1% in the 1st quarter. Empowered Funds LLC now owns 360,044 shares of the company’s stock worth $4,288,000 after acquiring an additional 7,291 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Zymeworks by 184.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,879,945 shares of the company’s stock worth $46,210,000 after acquiring an additional 2,514,834 shares in the last quarter. Finally, Jane Street Group LLC grew its position in Zymeworks by 487.0% during the 1st quarter. Jane Street Group LLC now owns 135,763 shares of the company’s stock worth $1,617,000 after acquiring an additional 112,636 shares during the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

Zymeworks Stock Down 5.1%

Shares of ZYME opened at $24.18 on Wednesday. The stock’s 50-day moving average price is $23.96 and its 200 day moving average price is $18.11. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of -16.12 and a beta of 1.30. Zymeworks has a 12-month low of $9.03 and a 12-month high of $28.49.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.02. The company had revenue of $27.61 million for the quarter, compared to analyst estimates of $33.69 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%.Zymeworks’s revenue for the quarter was up 72.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.39) EPS. Equities research analysts expect that Zymeworks will post -1.39 EPS for the current year.

About Zymeworks

Zymeworks Inc is a clinical-stage biopharmaceutical company headquartered in Vancouver, British Columbia, with a focus on the discovery, development and commercialization of multifunctional biotherapeutics. Founded in 2003, the company applies proprietary protein engineering platforms to create novel antibody and protein-based therapies targeting oncology and other serious diseases. Zymeworks is publicly traded on the New York Stock Exchange under the symbol ZYME.

The company’s core technology platforms include Azymetric®, which enables the design of bispecific antibodies capable of engaging two distinct targets simultaneously, and the EFECT™ platform for fine-tuning antibody-drug conjugate properties.