Zymeworks Inc (NYSE:ZYME) shares were up 5.6% during mid-day trading on Friday . The company traded as high as $27.16 and last traded at $26.39, approximately 373,361 shares changed hands during mid-day trading. An increase of 93% from the average daily volume of 193,032 shares. The stock had previously closed at $25.00.
A number of analysts have issued reports on ZYME shares. Barclays raised their target price on Zymeworks from $15.00 to $23.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Deutsche Bank began coverage on Zymeworks in a report on Thursday, July 18th. They issued a “buy” rating and a $34.00 target price on the stock. Wells Fargo & Co lifted their price objective on Zymeworks from $37.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, April 22nd. Raymond James set a $36.00 price objective on Zymeworks and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Finally, Canaccord Genuity set a $23.00 price objective on Zymeworks and gave the stock a “buy” rating in a report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $30.67.
The company has a market cap of $979.44 million, a price-to-earnings ratio of -20.94 and a beta of 1.47. The company has a fifty day moving average price of $23.80 and a two-hundred day moving average price of $18.81. The company has a current ratio of 9.07, a quick ratio of 9.07 and a debt-to-equity ratio of 0.02.
Large investors have recently made changes to their positions in the company. FMR LLC bought a new position in shares of Zymeworks during the 4th quarter worth approximately $8,173,000. Taylor Wealth Management Partners bought a new position in shares of Zymeworks during the 2nd quarter worth approximately $1,763,000. Granite Investment Partners LLC lifted its position in shares of Zymeworks by 87.8% during the 1st quarter. Granite Investment Partners LLC now owns 27,277 shares of the company’s stock worth $441,000 after buying an additional 12,750 shares during the period. First Republic Investment Management Inc. bought a new position in shares of Zymeworks during the 1st quarter worth approximately $548,000. Finally, Acadian Asset Management LLC lifted its position in shares of Zymeworks by 44.7% during the 1st quarter. Acadian Asset Management LLC now owns 164,135 shares of the company’s stock worth $2,654,000 after buying an additional 50,736 shares during the period. 30.43% of the stock is currently owned by institutional investors.
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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