Zymeworks Inc. (NYSE:ZYME) Given Average Rating of “Moderate Buy” by Brokerages

Zymeworks Inc. (NYSE:ZYME) has been given an average rating of “Moderate Buy” by the seven research firms that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $19.17.

Several brokerages have weighed in on ZYME. Wells Fargo & Company increased their price target on Zymeworks from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. Citigroup increased their price target on Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Leerink Partners raised Zymeworks from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $10.00 to $25.00 in a research report on Thursday, November 7th. Stifel Nicolaus increased their price target on Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. raised shares of Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 target price on the stock in a research note on Monday, December 16th.

Insider Activity at Zymeworks

In related news, Director Ecor1 Capital, Llc purchased 11,958 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were purchased at an average cost of $14.12 per share, with a total value of $168,846.96. Following the purchase, the director now owns 14,704,239 shares of the company’s stock, valued at $207,623,854.68. This represents a 0.08 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul Andrew Moore sold 21,200 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $14.92, for a total transaction of $316,304.00. Following the completion of the transaction, the insider now directly owns 14,741 shares in the company, valued at $219,935.72. This represents a 58.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have purchased 603,539 shares of company stock valued at $8,384,708 and have sold 89,601 shares valued at $1,336,847. 1.92% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ZYME. FMR LLC lifted its stake in Zymeworks by 84.2% in the 3rd quarter. FMR LLC now owns 3,336 shares of the company’s stock worth $42,000 after purchasing an additional 1,525 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Zymeworks in the 3rd quarter worth approximately $47,000. nVerses Capital LLC purchased a new position in Zymeworks in the 3rd quarter worth approximately $79,000. XTX Topco Ltd purchased a new position in Zymeworks in the 2nd quarter worth approximately $121,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Zymeworks by 64.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,665 shares of the company’s stock worth $171,000 after purchasing an additional 5,359 shares in the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

Zymeworks Price Performance

NYSE ZYME opened at $14.56 on Wednesday. The stock’s fifty day moving average price is $14.06 and its 200 day moving average price is $12.93. Zymeworks has a 1 year low of $7.97 and a 1 year high of $17.70. The company has a market cap of $1.00 billion, a price-to-earnings ratio of -9.71 and a beta of 1.10.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.01. The company had revenue of $16.00 million for the quarter, compared to the consensus estimate of $17.90 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.41) EPS. Research analysts expect that Zymeworks will post -1.39 earnings per share for the current year.

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.