Zymeworks (NYSE:ZYME) Stock Price Up 6.3% – Should You Buy?

Shares of Zymeworks Inc. (NYSE:ZYME) were up 6.3% during trading on Tuesday . The company traded as high as $18.86 and last traded at $19.1810. Approximately 178,647 shares changed hands during trading, a decline of 69% from the average daily volume of 580,464 shares. The stock had previously closed at $18.05.

Analyst Ratings Changes

Several research firms recently commented on ZYME. B. Riley began coverage on Zymeworks in a research report on Friday, October 10th. They set a “buy” rating and a $30.00 target price for the company. HC Wainwright reaffirmed a “buy” rating on shares of Zymeworks in a research report on Monday, October 27th. JPMorgan Chase & Co. raised their target price on shares of Zymeworks from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Citigroup lifted their price objective on Zymeworks from $19.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, August 11th. Finally, Wells Fargo & Company increased their target price on Zymeworks from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Friday. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Zymeworks has an average rating of “Moderate Buy” and an average target price of $24.67.

Zymeworks Price Performance

The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -12.84 and a beta of 1.48. The business has a fifty day simple moving average of $17.02 and a 200 day simple moving average of $14.34.

Zymeworks (NYSE:ZYME) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.02. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The business had revenue of $27.61 million for the quarter, compared to the consensus estimate of $33.69 million. During the same period in the previous year, the firm earned ($0.39) EPS. The business’s revenue was up 72.6% on a year-over-year basis. On average, research analysts anticipate that Zymeworks Inc. will post -1.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Optiver Holding B.V. acquired a new stake in shares of Zymeworks in the 3rd quarter valued at about $26,000. CWM LLC increased its stake in shares of Zymeworks by 1,091.2% during the first quarter. CWM LLC now owns 2,299 shares of the company’s stock valued at $27,000 after acquiring an additional 2,106 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Zymeworks by 29.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,947 shares of the company’s stock worth $62,000 after buying an additional 1,131 shares in the last quarter. Northwest & Ethical Investments L.P. lifted its holdings in Zymeworks by 83.3% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 10,030 shares of the company’s stock valued at $119,000 after acquiring an additional 4,559 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in Zymeworks by 157.7% during the second quarter. BNP Paribas Financial Markets now owns 10,307 shares of the company’s stock worth $129,000 after buying an additional 6,307 shares in the last quarter. 92.89% of the stock is currently 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.