Zymeworks Inc. (NASDAQ:ZYME) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Zymeworks Inc. (NASDAQ:ZYME) have earned an average recommendation of “Moderate Buy” from the thirteen research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, nine have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $37.8889.

A number of research firms have weighed in on ZYME. Citizens Jmp set a $32.00 price target on Zymeworks in a research note on Wednesday, December 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Zymeworks in a research note on Wednesday, January 21st. Stifel Nicolaus boosted their target price on shares of Zymeworks from $40.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Truist Financial began coverage on shares of Zymeworks in a research note on Wednesday, December 17th. They issued a “buy” rating and a $40.00 price target for the company. Finally, HC Wainwright boosted their price objective 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.

Zymeworks Trading Down 2.1%

Shares of ZYME stock opened at $24.18 on Friday. The firm’s fifty day moving average price is $23.48 and its two-hundred day moving average price is $22.10. Zymeworks has a 1 year low of $9.03 and a 1 year high of $28.49. The firm has a market capitalization of $1.78 billion, a P/E ratio of -22.39 and a beta of 1.23.

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

Insiders Place Their Bets

In other news, insider Paul Andrew Moore sold 20,110 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $25.10, for a total value of $504,761.00. Following the transaction, the insider directly owned 31,212 shares of the company’s stock, valued at $783,421.20. This represents a 39.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Mark Hollywood sold 6,120 shares of the firm’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $22.67, for a total transaction of $138,740.40. Following the sale, the chief operating officer owned 132,913 shares of the company’s stock, valued at approximately $3,013,137.71. This represents a 4.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 140,405 shares of company stock valued at $3,389,509 over the last 90 days. 33.51% of the stock is owned by insiders.

Institutional Investors Weigh In On Zymeworks

A number of institutional investors have recently made changes to their positions in ZYME. EcoR1 Capital LLC boosted its stake in Zymeworks by 33.1% in the 2nd quarter. EcoR1 Capital LLC now owns 22,970,388 shares of the company’s stock valued at $288,278,000 after purchasing an additional 5,710,840 shares during the period. Siren L.L.C. acquired a new position in shares of Zymeworks in the fourth quarter valued at about $44,238,000. Perceptive Advisors LLC increased its position in Zymeworks by 56.0% during the fourth quarter. Perceptive Advisors LLC now owns 3,261,850 shares of the company’s stock worth $85,885,000 after acquiring an additional 1,171,187 shares during the period. Rubric Capital Management LP boosted its holdings in Zymeworks by 22.1% in the 4th quarter. Rubric Capital Management LP now owns 5,750,000 shares of the company’s stock valued at $151,398,000 after purchasing an additional 1,039,449 shares during the period. Finally, Capricorn Fund Managers Ltd bought a new stake in Zymeworks in the 4th quarter valued at about $26,931,000. 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.