Zymeworks' (ZYME) "Neutral" Rating Reiterated at HC Wainwright

Zymeworks (NYSE:ZYME - Get Free Report)'s stock had its "neutral" rating reissued by research analysts at HC Wainwright in a research note issued on Tuesday, Benzinga reports. They currently have a $12.00 price objective on the stock. HC Wainwright's price target would indicate a potential downside of 8.68% from the company's current price.

Separately, Stifel Nicolaus boosted their target price 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 Stock Performance

Zymeworks stock traded down $0.03 during trading on Tuesday, reaching $13.14. The company had a trading volume of 348,981 shares, compared to its average volume of 628,111. Zymeworks has a 12-month low of $6.51 and a 12-month high of $14.05. The stock's 50 day moving average price is $12.12 and its two-hundred day moving average price is $10.22. The firm has a market capitalization of $929.06 million, a price-to-earnings ratio of -7.36 and a beta of 1.20.

Zymeworks (NYSE:ZYME - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share for the quarter, beating analysts' consensus estimates of ($0.27) by $0.01. The firm had revenue of $19.24 million for 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 period in the previous year, the company posted ($0.76) earnings per share. As a group, research analysts expect that Zymeworks will post -0.85 earnings per share for the current year.

Institutional Investors Weigh In On Zymeworks

Several institutional investors have recently bought and sold shares of ZYME. Susquehanna Fundamental Investments LLC acquired a new stake in Zymeworks in the 1st quarter valued at about $579,000. O Shaughnessy Asset Management LLC lifted its holdings in Zymeworks by 51.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 255,497 shares of the company's stock valued at $2,688,000 after acquiring an additional 86,797 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Zymeworks during the second quarter valued at about $1,683,000. Rubric Capital Management LP lifted its stake in Zymeworks by 12.7% during the second quarter. Rubric Capital Management LP now owns 3,917,331 shares of the company's stock valued at $33,336,000 after buying an additional 441,947 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its stake in Zymeworks by 401.9% during the second quarter. Squarepoint Ops LLC now owns 73,324 shares of the company's stock valued at $624,000 after buying an additional 58,716 shares in the last quarter. Institutional investors and hedge funds own 92.89% of the company's stock.

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.