Zymeworks (NYSE:ZYME) Sees Strong Trading Volume – Should You Buy?

Shares of Zymeworks Inc. (NYSE:ZYME) saw unusually-strong trading volume on Monday . Approximately 863,062 shares traded hands during trading, an increase of 29% from the previous session’s volume of 670,934 shares.The stock last traded at $23.9990 and had previously closed at $24.02.

Analysts Set New Price Targets

Several research firms have commented on ZYME. Citigroup boosted their target price on Zymeworks from $19.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, August 11th. Wells Fargo & Company upped their price target on shares of Zymeworks from $17.00 to $25.00 and gave the stock a “cautious” rating in a research note on Wednesday, November 19th. Leerink Partners set a $37.00 price objective on shares of Zymeworks in a research note on Monday, November 17th. JPMorgan Chase & Co. lifted 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. Finally, Stifel Nicolaus increased their price target on shares of Zymeworks from $30.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, November 19th. Eight investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Zymeworks presently has an average rating of “Moderate Buy” and an average target price of $31.13.

Zymeworks Stock Performance

The firm has a market cap of $1.87 billion, a P/E ratio of -16.66 and a beta of 1.48. The business’s 50-day simple moving average is $18.19 and its 200 day simple moving average is $14.90.

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

Institutional Trading of Zymeworks

Several institutional investors have recently made changes to their positions in ZYME. CWM LLC lifted its holdings in Zymeworks by 1,091.2% in the 1st quarter. CWM LLC now owns 2,299 shares of the company’s stock worth $27,000 after purchasing an additional 2,106 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Zymeworks by 25.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,531 shares of the company’s stock worth $292,000 after buying an additional 4,920 shares in the last quarter. Picton Mahoney Asset Management boosted its position in shares of Zymeworks by 0.7% during the first quarter. Picton Mahoney Asset Management now owns 208,029 shares of the company’s stock worth $2,477,000 after acquiring an additional 1,460 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Zymeworks by 1.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 133,639 shares of the company’s stock valued at $1,592,000 after acquiring an additional 2,333 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in Zymeworks by 0.4% in the 1st quarter. Deutsche Bank AG now owns 1,552,612 shares of the company’s stock valued at $18,492,000 after acquiring an additional 5,840 shares during the last quarter. 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.