Zymeworks (NYSE:ZYME) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright reiterated their neutral rating on shares of Zymeworks (NYSE:ZYME) in a report released on Tuesday morning, Benzinga reports. HC Wainwright currently has a $10.00 target price on the stock.

ZYME has been the subject of a number of other research reports. Citigroup cut their target price on shares of Zymeworks from $17.00 to $16.00 and set a buy rating for the company in a research report on Friday, May 3rd. Wells Fargo & Company lowered their price target on shares of Zymeworks from $14.00 to $12.00 and set an overweight rating for the company in a report on Friday, May 3rd.

Zymeworks Trading Up 1.9 %

Shares of ZYME opened at $9.23 on Tuesday. The stock has a market cap of $652.61 million, a P/E ratio of -5.16 and a beta of 1.16. The company has a 50-day moving average of $9.87 and a two-hundred day moving average of $9.75. Zymeworks has a 12-month low of $6.01 and a 12-month high of $13.14.

Zymeworks (NYSE:ZYME) last announced its earnings results on Wednesday, March 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.19. The company had revenue of $16.93 million during the quarter, compared to analysts’ expectations of $18.32 million. Zymeworks had a negative net margin of 249.63% and a negative return on equity of 28.37%. As a group, analysts forecast that Zymeworks will post -1.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Zymeworks

Hedge funds and other institutional investors have recently modified their holdings of the company. Gladius Capital Management LP grew its holdings in shares of Zymeworks by 36.5% during the third quarter. Gladius Capital Management LP now owns 3,940 shares of the company’s stock worth $25,000 after buying an additional 1,053 shares in the last quarter. AlphaMark Advisors LLC purchased a new stake in Zymeworks in the first quarter valued at approximately $32,000. New York State Teachers Retirement System purchased a new stake in Zymeworks in the fourth quarter valued at approximately $50,000. Arizona State Retirement System purchased a new stake in Zymeworks in the third quarter valued at approximately $64,000. Finally, AJOVista LLC purchased a new stake in Zymeworks in the fourth quarter valued at approximately $66,000. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

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.