Zymeworks (NYSE:ZYME) Now Covered by TD Securities

TD Securities began coverage on shares of Zymeworks (NYSE:ZYME) in a report released on Tuesday morning,Benzinga reports. The firm issued a buy rating on the stock.

Several other equities analysts also recently issued reports on the stock. Lifesci Capital started coverage on shares of Zymeworks in a report on Tuesday, March 11th. They set an “outperform” rating and a $30.00 price target for the company. Citigroup raised their price objective on shares of Zymeworks from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, March 7th. HC Wainwright boosted their target price on Zymeworks from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Monday, March 10th. Finally, TD Cowen initiated coverage on Zymeworks in a research report on Tuesday. They set a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.00.

Zymeworks Price Performance

Zymeworks stock opened at $12.43 on Tuesday. The business has a 50 day simple moving average of $11.80 and a 200 day simple moving average of $13.37. The company has a market capitalization of $864.84 million, a PE ratio of -8.29 and a beta of 1.24. Zymeworks has a one year low of $8.21 and a one year high of $17.70.

Zymeworks (NYSE:ZYME) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.15. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The firm had revenue of $27.11 million during the quarter, compared to analyst estimates of $20.65 million. During the same period in the prior year, the company posted ($0.42) earnings per share. The business’s revenue for the quarter was up 170.3% compared to the same quarter last year. Equities analysts anticipate that Zymeworks will post -1.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Ecor1 Capital, Llc purchased 73,953 shares of the firm’s stock in a transaction dated Wednesday, April 16th. The shares were acquired at an average cost of $11.16 per share, with a total value of $825,315.48. Following the completion of the purchase, the director now directly owns 17,773,727 shares of the company’s stock, valued at $198,354,793.32. This trade represents a 0.42% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders purchased 1,405,768 shares of company stock valued at $16,773,032. Insiders own 1.92% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Sterling Capital Management LLC lifted its holdings in Zymeworks by 781.5% during the 4th quarter. Sterling Capital Management LLC now owns 1,719 shares of the company’s stock worth $25,000 after buying an additional 1,524 shares in the last quarter. CWM LLC raised its position in shares of Zymeworks by 1,091.2% during the first quarter. CWM LLC now owns 2,299 shares of the company’s stock worth $27,000 after acquiring an additional 2,106 shares during the last quarter. AlphaQuest LLC lifted its stake in shares of Zymeworks by 480.2% during the fourth quarter. AlphaQuest LLC now owns 2,808 shares of the company’s stock valued at $41,000 after acquiring an additional 2,324 shares during the period. GAMMA Investing LLC lifted its stake in shares of Zymeworks by 1,113.3% during the first quarter. GAMMA Investing LLC now owns 6,467 shares of the company’s stock valued at $77,000 after acquiring an additional 5,934 shares during the period. Finally, BNP Paribas Financial Markets bought a new position in Zymeworks in the fourth quarter valued at about $108,000. Institutional investors 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.