Analysts Set Zymeworks Inc. (NASDAQ:ZYME) PT at $37.89

Shares of Zymeworks Inc. (NASDAQ:ZYME) have earned an average rating of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $37.8889.

ZYME has been the subject of several research reports. Truist Financial assumed coverage on Zymeworks in a research report on Wednesday, December 17th. They issued a “buy” rating and a $40.00 target price for the company. Stifel Nicolaus increased their price target on shares of Zymeworks from $40.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. HC Wainwright lifted their price target 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. Wells Fargo & Company upgraded shares of Zymeworks from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $25.00 to $33.00 in a report on Friday, December 12th. Finally, Leerink Partners increased their target price on shares of Zymeworks from $52.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday, March 3rd.

Insider Buying and Selling

In related news, EVP Jeffrey T. L. Smith sold 10,538 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $25.10, for a total transaction of $264,503.80. Following the transaction, the executive vice president owned 18,352 shares in the company, valued at $460,635.20. The trade was a 36.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul Andrew Moore sold 20,110 shares of the business’s 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 owned 31,212 shares in the company, valued at approximately $783,421.20. This represents a 39.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 140,405 shares of company stock valued at $3,389,509 over the last quarter. Company insiders own 33.51% of the company’s stock.

Institutional Trading of Zymeworks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. EcoR1 Capital LLC raised its stake in Zymeworks by 33.1% in the second quarter. EcoR1 Capital LLC now owns 22,970,388 shares of the company’s stock worth $288,278,000 after buying an additional 5,710,840 shares in the last quarter. Squarepoint Ops LLC boosted its position in Zymeworks by 144.6% during the 2nd quarter. Squarepoint Ops LLC now owns 155,599 shares of the company’s stock valued at $1,953,000 after acquiring an additional 91,997 shares in the last quarter. Norges Bank purchased a new position in shares of Zymeworks during the 2nd quarter worth approximately $2,531,000. Assenagon Asset Management S.A. grew its holdings in shares of Zymeworks by 169.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,326,774 shares of the company’s stock worth $22,661,000 after acquiring an additional 833,994 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Zymeworks in the 2nd quarter worth approximately $179,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Zymeworks Price Performance

NASDAQ ZYME opened at $25.80 on Friday. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of -23.89 and a beta of 1.20. The business’s fifty day moving average is $23.66 and its 200-day moving average is $22.44. Zymeworks has a one year low of $9.03 and a one year high of $28.49.

Zymeworks (NASDAQ:ZYME) last issued its earnings results on Saturday, February 14th. The company reported ($0.55) earnings per share (EPS) for the quarter. The firm 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%.

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.