Zymeworks (NYSE:ZYME) Reaches New 1-Year High at $13.14

Zymeworks Inc. (NYSE:ZYME) hit a new 52-week high during trading on Thursday . The company traded as high as $13.14 and last traded at $13.06, with a volume of 400162 shares trading hands. The stock had previously closed at $12.52.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ZYME. HC Wainwright reiterated a “neutral” rating and set a $10.00 price target on shares of Zymeworks in a research note on Wednesday. Stifel Nicolaus lifted their target price 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 Price Performance

The stock has a market capitalization of $925.53 million, a P/E ratio of -7.31 and a beta of 1.19. The stock has a fifty day moving average price of $11.03 and a 200 day moving average price of $9.91.

Zymeworks (NYSE:ZYME) last issued its earnings results on Thursday, August 1st. The company reported ($0.26) 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 business had revenue of $19.24 million during the quarter, compared to the consensus estimate of $23.16 million. During the same quarter last year, the company earned ($0.76) EPS. Research analysts anticipate that Zymeworks Inc. will post -0.85 earnings per share for the current year.

Institutional Trading of Zymeworks

Several institutional investors and hedge funds have recently bought and sold shares of ZYME. AlphaMark Advisors LLC bought a new position in shares of Zymeworks in the first quarter worth $32,000. Quest Partners LLC grew its position in 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 buying an additional 9,096 shares in the last quarter. MQS Management LLC bought a new position in Zymeworks in the 2nd quarter worth about $92,000. Arizona State Retirement System raised its holdings in shares of Zymeworks by 11.1% in the 2nd quarter. Arizona State Retirement System now owns 12,841 shares of the company’s stock valued at $109,000 after acquiring an additional 1,285 shares in the last quarter. Finally, Tocqueville Asset Management L.P. bought a new stake in shares of Zymeworks during the 1st quarter valued at about $117,000. 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.