Zymeworks (NYSE:ZYME) Now Covered by TD Securities

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

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

Zymeworks Stock Performance

Shares of NYSE ZYME opened at $12.43 on Tuesday. The business’s 50-day simple moving average is $11.80 and its 200-day simple moving average is $13.37. Zymeworks has a 52 week low of $8.21 and a 52 week high of $17.70. The firm has a market cap of $864.84 million, a price-to-earnings ratio of -8.29 and a beta of 1.24.

Zymeworks (NYSE:ZYME) last announced its earnings results on Thursday, May 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $20.65 million. During the same quarter in the prior year, the business earned ($0.42) earnings per share. The company’s revenue was up 170.3% on a year-over-year basis. As a group, equities research analysts forecast that Zymeworks will post -1.39 earnings per share for the current year.

Insider Buying and Selling at Zymeworks

In other news, Director Ecor1 Capital, Llc purchased 468,356 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was purchased at an average price of $12.48 per share, with a total value of $5,845,082.88. Following the acquisition, the director now directly owns 16,802,141 shares in the company, valued at approximately $209,690,719.68. The trade was a 2.87% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders purchased a total of 1,405,768 shares of company stock valued at $16,773,032 in the last ninety days. Company insiders own 1.92% of the company’s stock.

Institutional Trading of Zymeworks

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