Zymeworks (NYSE:ZYME) Hits New 52-Week High - Should You Buy?

Zymeworks Inc. (NYSE:ZYME - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The company traded as high as $14.25 and last traded at $14.25, with a volume of 125 shares changing hands. The stock had previously closed at $13.48.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ZYME. Stifel Nicolaus increased their price objective on Zymeworks from $20.00 to $21.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. HC Wainwright raised their price target on shares of Zymeworks from $10.00 to $12.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 25th.

Zymeworks Stock Down 2.3 %

The firm has a fifty day moving average of $12.06 and a 200-day moving average of $10.19. The firm has a market cap of $931.18 million, a P/E ratio of -7.53 and a beta of 1.20.

Zymeworks (NYSE:ZYME - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.01. The company had revenue of $19.24 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm posted ($0.76) EPS. On average, equities analysts forecast that Zymeworks Inc. will post -0.85 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Wellington Management Group LLP grew its holdings in Zymeworks by 31.0% during the fourth quarter. Wellington Management Group LLP now owns 205,246 shares of the company's stock worth $2,133,000 after purchasing an additional 48,564 shares during the period. AlphaMark Advisors LLC bought a new position in shares of Zymeworks during the 1st quarter worth approximately $32,000. Principal Financial Group Inc. acquired a new position in shares of Zymeworks during the 1st quarter worth approximately $273,000. Empowered Funds LLC raised its stake in Zymeworks by 8.2% in the 1st quarter. Empowered Funds LLC now owns 295,783 shares of the company's stock valued at $3,112,000 after acquiring an additional 22,367 shares during the period. Finally, Swiss National Bank raised its stake in Zymeworks by 12.8% in the 1st quarter. Swiss National Bank now owns 83,000 shares of the company's stock valued at $873,000 after acquiring an additional 9,400 shares during the period. 92.89% of the stock is currently owned by institutional investors and hedge funds.

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.