Zymeworks Inc. (NASDAQ:ZYME) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Zymeworks Inc. (NASDAQ:ZYME) have earned a consensus rating of “Moderate Buy” from the thirteen analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $37.8889.

ZYME has been the subject of several research reports. Citizens Jmp set a $32.00 target price on Zymeworks in a research report on Wednesday, December 3rd. Stifel Nicolaus upped their price objective on Zymeworks from $40.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zymeworks in a report on Wednesday, January 21st. Truist Financial assumed coverage on shares of Zymeworks in a research report on Wednesday, December 17th. They set a “buy” rating and a $40.00 target price on the stock. Finally, Leerink Partners boosted their target price on shares of Zymeworks from $52.00 to $58.00 and gave the stock an “outperform” rating in a report on Tuesday, March 3rd.

Zymeworks Trading Down 2.1%

Shares of Zymeworks stock opened at $24.18 on Friday. The firm’s 50 day moving average is $23.48 and its 200 day moving average is $22.10. The firm has a market capitalization of $1.78 billion, a PE ratio of -22.39 and a beta of 1.23. Zymeworks has a 1 year low of $9.03 and a 1 year high of $28.49.

Zymeworks (NASDAQ:ZYME) last released its quarterly earnings data on Saturday, February 14th. The company reported ($0.55) earnings per share for the quarter. The firm had revenue of $2.52 million for the quarter. Zymeworks had a negative net margin of 76.56% and a negative return on equity of 26.00%.

Insider Buying and Selling at Zymeworks

In related news, insider Paul Andrew Moore sold 20,110 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $25.10, for a total value of $504,761.00. Following the completion of the sale, the insider directly owned 31,212 shares in the company, valued at $783,421.20. This represents a 39.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jeffrey T. L. Smith sold 10,538 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $25.10, for a total value of $264,503.80. Following the transaction, the executive vice president directly owned 18,352 shares of the company’s stock, valued at approximately $460,635.20. This represents a 36.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 140,405 shares of company stock worth $3,389,509 in the last three months. 33.51% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zymeworks

Institutional investors and hedge funds have recently made changes to their positions in the stock. Optiver Holding B.V. bought a new position in shares of Zymeworks during the third quarter worth about $26,000. Caitong International Asset Management Co. Ltd bought a new stake in Zymeworks in the fourth quarter valued at approximately $37,000. Quarry LP bought a new stake in Zymeworks in the third quarter valued at approximately $50,000. Tower Research Capital LLC TRC increased its position in Zymeworks by 29.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,947 shares of the company’s stock valued at $62,000 after purchasing an additional 1,131 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Zymeworks by 25.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,637 shares of the company’s stock valued at $96,000 after purchasing an additional 731 shares during the period. Institutional investors and hedge funds own 92.89% of the company’s stock.

Zymeworks Company Profile

Zymeworks Inc is a clinical-stage biopharmaceutical company dedicated to the discovery, development and commercialization of next-generation multifunctional biotherapeutics. The company specializes in engineered antibody and protein therapeutics designed to address a range of unmet medical needs in oncology and other serious diseases. Through its proprietary platforms, Zymeworks aims to create novel bispecific and multispecific molecules that can simultaneously engage multiple targets and recruit immune effector functions to enhance potency and specificity.

At the core of Zymeworks’ innovation is its Azymetric™ bispecific antibody platform, which enables the design of asymmetrical bispecific antibodies with controlled assembly and high stability.