Zymeworks (NASDAQ:ZYME) Hits New 12-Month High – Time to Buy?

Zymeworks Inc. (NASDAQ:ZYME) reached a new 52-week high during trading on Wednesday . The stock traded as high as $28.81 and last traded at $28.0730, with a volume of 106166 shares changing hands. The stock had previously closed at $28.27.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Stifel Nicolaus lifted their price target on shares of Zymeworks from $40.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Leerink Partners boosted their target price on shares of Zymeworks from $52.00 to $58.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zymeworks in a research report on Monday. Finally, HC Wainwright lifted their price target on Zymeworks from $32.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Zymeworks has an average rating of “Moderate Buy” and an average price target of $37.89.

Zymeworks Stock Performance

The firm has a market capitalization of $2.10 billion, a P/E ratio of -26.37 and a beta of 1.20. The firm has a 50 day simple moving average of $24.68 and a two-hundred day simple moving average of $23.36.

Zymeworks (NASDAQ:ZYME) last announced its earnings results on Saturday, February 14th. The company reported ($0.55) EPS for the quarter. Zymeworks had a negative net margin of 76.56% and a negative return on equity of 26.00%. The firm had revenue of $2.52 million during the quarter. Sell-side analysts anticipate that Zymeworks Inc. will post 0.97 earnings per share for the current year.

Institutional Trading of Zymeworks

Hedge funds have recently bought and sold shares of the business. Optiver Holding B.V. purchased a new position in Zymeworks in the third quarter worth $26,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Zymeworks in the 4th quarter worth about $37,000. Quarry LP bought a new position in Zymeworks during the third quarter valued at about $50,000. Tower Research Capital LLC TRC increased its holdings in Zymeworks by 29.6% during the second quarter. Tower Research Capital LLC TRC now owns 4,947 shares of the company’s stock worth $62,000 after buying an additional 1,131 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Zymeworks by 25.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,637 shares of the company’s stock valued at $96,000 after acquiring an additional 731 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors.

About Zymeworks

Zymeworks Inc is a clinical-stage biopharmaceutical company dedicated to the discovery, development and commercialization of next-generation multifunctional biotherapeutics. The company specializes in engineered antibody and protein therapeutics designed to address a range of unmet medical needs in oncology and other serious diseases. Through its proprietary platforms, Zymeworks aims to create novel bispecific and multispecific molecules that can simultaneously engage multiple targets and recruit immune effector functions to enhance potency and specificity.

At the core of Zymeworks’ innovation is its Azymetric™ bispecific antibody platform, which enables the design of asymmetrical bispecific antibodies with controlled assembly and high stability.