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

HC Wainwright reissued their neutral rating on shares of Zymeworks (NYSE:ZYME) in a research report released on Wednesday, Benzinga reports. They currently have a $10.00 price objective on the stock.

Separately, Stifel Nicolaus lifted their target price on Zymeworks from $20.00 to $21.00 and gave the company a buy rating in a report on Friday, August 2nd.

Zymeworks Stock Performance

Shares of Zymeworks stock opened at $13.09 on Wednesday. Zymeworks has a 52-week low of $6.01 and a 52-week high of $13.23. The stock’s 50-day simple moving average is $10.97 and its 200 day simple moving average is $9.90. The stock has a market capitalization of $925.53 million, a P/E ratio of -7.31 and a beta of 1.19.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.01. The business had revenue of $19.24 million for the quarter, compared to analysts’ expectations of $23.16 million. Zymeworks had a negative return on equity of 21.97% and a negative net margin of 179.42%. During the same period in the previous year, the business posted ($0.76) EPS. Equities research analysts forecast that Zymeworks will post -0.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. California State Teachers Retirement System grew its holdings in shares of Zymeworks by 2.9% during the first quarter. California State Teachers Retirement System now owns 43,420 shares of the company’s stock worth $457,000 after purchasing an additional 1,215 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Zymeworks by 11.1% during the second quarter. Arizona State Retirement System now owns 12,841 shares of the company’s stock worth $109,000 after purchasing an additional 1,285 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Zymeworks by 11.1% during the first quarter. ProShare Advisors LLC now owns 14,952 shares of the company’s stock worth $157,000 after purchasing an additional 1,499 shares in the last quarter. SummerHaven Investment Management LLC grew its holdings in shares of Zymeworks by 2.0% during the second quarter. SummerHaven Investment Management LLC now owns 90,158 shares of the company’s stock worth $767,000 after purchasing an additional 1,772 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Zymeworks by 17.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,664 shares of the company’s stock worth $165,000 after purchasing an additional 2,351 shares in the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

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.