Zymeworks (NYSE:ZYME) PT Lowered to $12.00

Zymeworks (NYSE:ZYME) had its target price reduced by Wells Fargo & Company from $14.00 to $12.00 in a research note released on Friday, Benzinga reports. They currently have an overweight rating on the stock.

Zymeworks Trading Down 1.5 %

Shares of Zymeworks stock opened at $9.06 on Friday. Zymeworks has a twelve month low of $6.01 and a twelve month high of $13.14. The stock has a market cap of $640.63 million, a price-to-earnings ratio of -5.06 and a beta of 1.16. The company has a fifty day moving average price of $10.06 and a 200 day moving average price of $9.74.

Zymeworks (NYSE:ZYME) last announced its earnings results on Wednesday, March 6th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.19. The business had revenue of $16.93 million for the quarter, compared to the consensus estimate of $18.32 million. Zymeworks had a negative return on equity of 28.37% and a negative net margin of 249.63%. Analysts forecast that Zymeworks will post -1.04 earnings per share for the current year.

Institutional Trading of Zymeworks

Several large investors have recently modified their holdings of ZYME. Rubric Capital Management LP boosted its stake in Zymeworks by 31.1% during the 4th quarter. Rubric Capital Management LP now owns 3,475,384 shares of the company’s stock valued at $36,109,000 after acquiring an additional 823,990 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of Zymeworks by 742.4% during the third quarter. Acadian Asset Management LLC now owns 825,988 shares of the company’s stock worth $5,233,000 after purchasing an additional 727,934 shares during the last quarter. Jupiter Asset Management Ltd. lifted its position in shares of Zymeworks by 913.0% during the third quarter. Jupiter Asset Management Ltd. now owns 474,724 shares of the company’s stock worth $3,010,000 after purchasing an additional 427,860 shares during the last quarter. AQR Capital Management LLC grew its stake in Zymeworks by 70.3% in the third quarter. AQR Capital Management LLC now owns 799,679 shares of the company’s stock worth $5,070,000 after purchasing an additional 330,213 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in Zymeworks during the first quarter worth $1,752,000. 92.89% of the stock is currently owned by institutional investors and hedge funds.

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.