Zymeworks (NYSE:ZYME) Trading Up 9.7%

Zymeworks Inc (NYSE:ZYME)’s stock price was up 9.7% during mid-day trading on Friday . The company traded as high as $42.25 and last traded at $42.00, approximately 720,063 shares changed hands during mid-day trading. An increase of 218% from the average daily volume of 226,417 shares. The stock had previously closed at $38.29.

A number of research analysts have recently issued reports on ZYME shares. Deutsche Bank lifted their price target on Zymeworks from $36.00 to $39.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Zacks Investment Research downgraded Zymeworks from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. ValuEngine downgraded Zymeworks from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Stifel Nicolaus reiterated a “buy” rating on shares of Zymeworks in a report on Thursday. Finally, Raymond James set a $40.00 price target on Zymeworks and gave the company a “strong-buy” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $38.22.

The company has a 50 day moving average of $31.60 and a two-hundred day moving average of $25.11. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.81 and a current ratio of 6.81. The stock has a market capitalization of $1.51 billion, a PE ratio of -33.33 and a beta of 1.44.

Zymeworks (NYSE:ZYME) last announced its earnings results on Tuesday, November 5th. The company reported ($0.70) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.76) by $0.06. Zymeworks had a negative return on equity of 25.72% and a negative net margin of 112.95%. The firm had revenue of $7.86 million for the quarter, compared to the consensus estimate of $7.77 million. As a group, research analysts predict that Zymeworks Inc will post -2.86 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. California Public Employees Retirement System grew its stake in Zymeworks by 5.8% during the 3rd quarter. California Public Employees Retirement System now owns 67,900 shares of the company’s stock worth $1,684,000 after buying an additional 3,700 shares during the last quarter. Cutler Group LP lifted its position in Zymeworks by 1,050.0% during the 3rd quarter. Cutler Group LP now owns 2,300 shares of the company’s stock worth $57,000 after acquiring an additional 2,100 shares during the period. Truvestments Capital LLC lifted its position in Zymeworks by 100.0% during the 3rd quarter. Truvestments Capital LLC now owns 1,000 shares of the company’s stock worth $25,000 after acquiring an additional 500 shares during the period. Perceptive Advisors LLC lifted its position in Zymeworks by 312.8% during the 2nd quarter. Perceptive Advisors LLC now owns 2,368,890 shares of the company’s stock worth $52,115,000 after acquiring an additional 1,795,000 shares during the period. Finally, Royal Bank of Canada lifted its position in Zymeworks by 6.8% during the 2nd quarter. Royal Bank of Canada now owns 13,072 shares of the company’s stock worth $287,000 after acquiring an additional 835 shares during the period. Hedge funds and other institutional investors own 49.55% of the company’s stock.

About Zymeworks (NYSE:ZYME)

Zymeworks Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of bio-therapeutics for the treatment of cancer in Canada. The company's lead product candidates include ZW25, a bispecific antibody that is in Phase I clinical trial for the treatment of breast and gastric cancer; ZW49, a bispecific antibody-drug conjugate that is in preclinical stage for treating breast and gastric cancers, and solid tumors.

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