HC Wainwright Reiterates Neutral Rating for Zymeworks (NYSE:ZYME)

Zymeworks (NYSE:ZYME - Get Free Report)'s stock had its "neutral" rating reiterated by investment analysts at HC Wainwright in a research note issued on Friday, Benzinga reports. They currently have a $12.00 price target on the stock. HC Wainwright's price target would suggest a potential downside of 9.64% from the company's previous close.

Other equities analysts have also recently issued reports about the stock. Wells Fargo & Company cut shares of Zymeworks from an "overweight" rating to an "equal weight" rating and set a $12.00 price target on the stock. in a research note on Friday. Stifel Nicolaus increased their target price on shares of Zymeworks from $21.00 to $28.00 and gave the company a "buy" rating in a report on Monday.

Zymeworks Stock Down 3.1 %

NYSE ZYME traded down $0.42 during trading hours on Friday, hitting $13.28. 1,211,125 shares of the stock were exchanged, compared to its average volume of 625,201. The company has a market cap of $943.54 million, a price-to-earnings ratio of -8.74 and a beta of 1.20. Zymeworks has a 12-month low of $6.83 and a 12-month high of $14.05. The stock has a 50-day moving average of $12.55 and a 200 day moving average of $10.42.

Zymeworks (NYSE:ZYME - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.40) 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 $16.00 million during the quarter, compared to analysts' expectations of $17.90 million. During the same period last year, the firm earned ($0.41) EPS. The company's quarterly revenue was down 3.1% compared to the same quarter last year. On average, equities research analysts expect that Zymeworks will post -0.92 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. California State Teachers Retirement System increased its position in 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 buying an additional 1,215 shares in the last quarter. Arizona State Retirement System raised its stake in 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 purchasing an additional 1,285 shares during the last quarter. ProShare Advisors LLC lifted its holdings in Zymeworks by 11.1% in the 1st quarter. ProShare Advisors LLC now owns 14,952 shares of the company's stock valued at $157,000 after purchasing an additional 1,499 shares in the last quarter. SummerHaven Investment Management LLC boosted its stake in shares of Zymeworks by 2.0% during the 2nd 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 during 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 buying an additional 2,351 shares in the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

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.