HC Wainwright Reaffirms “Neutral” Rating for Zymeworks (NYSE:ZYME)

HC Wainwright restated 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 target price 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 report on Friday, August 2nd.

Zymeworks Trading Up 0.3 %

ZYME stock opened at $13.09 on Wednesday. The stock has a market capitalization of $925.53 million, a P/E ratio of -7.31 and a beta of 1.19. Zymeworks has a 12 month low of $6.01 and a 12 month high of $13.23. The firm has a 50-day moving average price of $10.97 and a 200-day moving average price of $9.90.

Zymeworks (NYSE:ZYME) last posted its earnings results on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.01. The firm had revenue of $19.24 million during the quarter, compared to analysts’ expectations of $23.16 million. Zymeworks had a negative net margin of 179.42% and a negative return on equity of 21.97%. During the same quarter in the prior year, the business earned ($0.76) earnings per share. As a group, equities analysts predict that Zymeworks will post -0.85 EPS for the current fiscal year.

Hedge Funds Weigh In On Zymeworks

Several large investors have recently bought and sold shares of ZYME. Rubric Capital Management LP raised its stake in shares of Zymeworks by 31.1% during the 4th quarter. Rubric Capital Management LP now owns 3,475,384 shares of the company’s stock worth $36,109,000 after purchasing an additional 823,990 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Zymeworks during the 1st quarter worth $6,301,000. Perceptive Advisors LLC raised its stake in shares of Zymeworks by 55.2% during the 2nd quarter. Perceptive Advisors LLC now owns 1,667,711 shares of the company’s stock worth $14,192,000 after purchasing an additional 592,904 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Zymeworks by 127.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 715,632 shares of the company’s stock worth $6,090,000 after purchasing an additional 401,068 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Zymeworks by 94.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 716,482 shares of the company’s stock worth $7,537,000 after purchasing an additional 348,441 shares during the period. 92.89% of the stock is currently owned by 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.