Zymeworks (NYSE:ZYME) Hits New 52-Week High – Should You Buy?

by · The Markets Daily

Shares of Zymeworks Inc. (NYSE:ZYME – Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $14.25 and last traded at $14.25, with a volume of 125 shares changing hands. The stock had previously closed at $13.48.

Wall Street Analyst Weigh In

ZYME has been the topic of a number of recent research reports. HC Wainwright boosted their target price on Zymeworks from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Stifel Nicolaus raised their target price on shares of Zymeworks from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd.

Read Our Latest Stock Analysis on Zymeworks

Zymeworks Trading Up 5.7 %

The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -7.53 and a beta of 1.20. The business has a 50 day simple moving average of $12.06 and a 200-day simple moving average of $10.19.

Zymeworks (NYSE:ZYME – Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $19.24 million for the quarter, compared to analyst estimates of $23.16 million. During the same period last year, the company posted ($0.76) EPS. Research analysts predict that Zymeworks Inc. will post -0.85 EPS for the current year.

Hedge Funds Weigh In On Zymeworks

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AlphaMark Advisors LLC bought a new position in Zymeworks during the 1st quarter valued at $32,000. Quest Partners LLC lifted its position in shares of Zymeworks by 8,049.6% during the second quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock worth $78,000 after purchasing an additional 9,096 shares during the last quarter. nVerses Capital LLC bought a new position in shares of Zymeworks during the third quarter worth about $79,000. MQS Management LLC acquired a new position in Zymeworks in the second quarter worth about $92,000. Finally, Arizona State Retirement System increased its holdings in Zymeworks by 11.1% in the second quarter. Arizona State Retirement System now owns 12,841 shares of the company’s stock valued at $109,000 after buying an additional 1,285 shares during the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

Zymeworks Company Profile

(Get Free Report)

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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