HC Wainwright reiterated their neutral rating on shares of Zymeworks (NYSE:ZYME – Free Report) in a research report sent to investors on Tuesday, Benzinga reports. HC Wainwright currently has a $10.00 price target on the stock.
Several other research analysts have also recently issued reports on the stock. Wells Fargo & Company reduced their target price on shares of Zymeworks from $14.00 to $12.00 and set an overweight rating for the company in a report on Friday, May 3rd. Citigroup reduced their target price on shares of Zymeworks from $17.00 to $16.00 and set a buy rating for the company in a report on Friday, May 3rd.
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Zymeworks Stock Up 1.9 %
Zymeworks (NYSE:ZYME – Get Free Report) last posted its quarterly earnings results on Wednesday, March 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.19. The business had revenue of $16.93 million during the quarter, compared to analysts’ expectations of $18.32 million. Zymeworks had a negative net margin of 249.63% and a negative return on equity of 28.37%. On average, sell-side analysts expect that Zymeworks will post -1.04 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AlphaMark Advisors LLC purchased a new position in Zymeworks in the first quarter valued at $32,000. Gladius Capital Management LP grew its position in shares of Zymeworks by 36.5% in the third quarter. Gladius Capital Management LP now owns 3,940 shares of the company’s stock valued at $25,000 after purchasing an additional 1,053 shares during the period. New York State Teachers Retirement System acquired a new stake in shares of Zymeworks in the fourth quarter valued at about $50,000. AJOVista LLC acquired a new stake in shares of Zymeworks in the fourth quarter valued at about $66,000. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in shares of Zymeworks in the fourth quarter valued at about $84,000. Hedge funds and other 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.
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