Zymeworks (NYSE:ZYME) Reaches New 1-Year High at $13.14

Shares of Zymeworks Inc. (NYSE:ZYME) reached a new 52-week high on Thursday . The stock traded as high as $13.14 and last traded at $13.06, with a volume of 400162 shares traded. The stock had previously closed at $12.52.

Wall Street Analysts Forecast Growth

ZYME has been the topic of several research analyst reports. Stifel Nicolaus upped their price objective on shares of Zymeworks from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. HC Wainwright reissued a “neutral” rating and set a $10.00 price objective on shares of Zymeworks in a research note on Wednesday.

Zymeworks Price Performance

The stock has a market cap of $922.70 million, a PE ratio of -6.99 and a beta of 1.19. The business has a 50 day moving average price of $10.91 and a two-hundred day moving average price of $9.88.

Zymeworks (NYSE:ZYME) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.01. Zymeworks had a negative return on equity of 21.97% and a negative net margin of 179.42%. The firm had revenue of $19.24 million during the quarter, compared to analyst estimates of $23.16 million. During the same quarter in the prior year, the firm posted ($0.76) earnings per share. On average, sell-side analysts forecast that Zymeworks Inc. will post -0.85 earnings per share for the current fiscal year.

Institutional Trading of Zymeworks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZYME. Russell Investments Group Ltd. lifted its stake in Zymeworks by 387.5% in the fourth quarter. Russell Investments Group Ltd. now owns 27,004 shares of the company’s stock worth $281,000 after acquiring an additional 21,465 shares during the period. Rubric Capital Management LP lifted its position in Zymeworks by 31.1% during the fourth quarter. Rubric Capital Management LP now owns 3,475,384 shares of the company’s stock valued at $36,109,000 after buying an additional 823,990 shares during the period. Pennant Investors LP purchased a new position in Zymeworks during the fourth quarter valued at $402,000. Wellington Management Group LLP lifted its position in Zymeworks by 31.0% during the fourth quarter. Wellington Management Group LLP now owns 205,246 shares of the company’s stock valued at $2,133,000 after buying an additional 48,564 shares during the period. Finally, AlphaMark Advisors LLC purchased a new position in Zymeworks during the first quarter valued at $32,000. 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.