Zymeworks (NYSE:ZYME) Given Neutral Rating at HC Wainwright

HC Wainwright reissued their neutral rating on shares of Zymeworks (NYSE:ZYME) in a research note published on Wednesday morning, Benzinga reports. The firm currently has a $10.00 price target on the stock.

Separately, Stifel Nicolaus raised their price objective on shares of Zymeworks from $20.00 to $21.00 and gave the stock a buy rating in a research note on Friday, August 2nd.

Zymeworks Stock Up 1.8 %

Shares of Zymeworks stock opened at $12.52 on Wednesday. Zymeworks has a 12-month low of $6.01 and a 12-month high of $13.14. The firm has a market capitalization of $885.23 million, a PE ratio of -6.99 and a beta of 1.19. The stock’s fifty day moving average is $10.84 and its 200-day moving average is $9.86.

Zymeworks (NYSE:ZYME) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.01. Zymeworks had a negative return on equity of 21.97% and a negative net margin of 179.42%. The firm had revenue of $19.24 million for the quarter, compared to the consensus estimate of $23.16 million. During the same quarter in the previous year, the company earned ($0.76) EPS. Analysts expect that Zymeworks will post -0.85 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AlphaMark Advisors LLC acquired a new stake in shares of Zymeworks during the 1st quarter valued at $32,000. Quest Partners LLC raised its holdings in shares of Zymeworks by 8,049.6% during the second quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock worth $78,000 after acquiring an additional 9,096 shares in the last quarter. MQS Management LLC acquired a new stake in Zymeworks during the second quarter valued at $92,000. Arizona State Retirement System grew its stake in Zymeworks by 11.1% in the second quarter. Arizona State Retirement System now owns 12,841 shares of the company’s stock valued at $109,000 after purchasing an additional 1,285 shares in the last quarter. Finally, Tocqueville Asset Management L.P. acquired a new position in Zymeworks in the 1st quarter worth about $117,000. 92.89% of the stock is owned by hedge funds and other institutional investors.

Zymeworks Company Profile

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.