Zymeworks Inc (NYSE:ZYME)’s stock price was down 6.6% on Tuesday . The stock traded as low as $26.21 and last traded at $26.98, approximately 507,554 shares traded hands during mid-day trading. An increase of 147% from the average daily volume of 205,173 shares. The stock had previously closed at $28.88.

ZYME has been the topic of a number of recent analyst reports. Deutsche Bank assumed coverage on shares of Zymeworks in a report on Thursday, July 18th. They set a “buy” rating and a $34.00 target price on the stock. Zacks Investment Research raised shares of Zymeworks from a “sell” rating to a “hold” rating in a research report on Saturday, August 31st. Barclays boosted their price objective on shares of Zymeworks from $15.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Stifel Nicolaus assumed coverage on shares of Zymeworks in a report on Friday, August 30th. They issued a “buy” rating and a $45.00 target price on the stock. Finally, ValuEngine downgraded shares of Zymeworks from a “buy” rating to a “hold” rating in a research note on Saturday, May 18th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $34.75.

The company has a current ratio of 9.07, a quick ratio of 9.07 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $1.14 billion, a P/E ratio of -21.41 and a beta of 1.36. The company has a 50 day moving average price of $25.22 and a 200 day moving average price of $20.12.

Zymeworks (NYSE:ZYME) last posted its quarterly earnings results on Friday, August 2nd. The company reported ($0.89) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.06). Zymeworks had a negative net margin of 102.78% and a negative return on equity of 24.44%. The business had revenue of $7.88 million during the quarter, compared to the consensus estimate of $7.25 million. As a group, sell-side analysts forecast that Zymeworks Inc will post -2.58 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in shares of Zymeworks by 42.3% in the second quarter. BlackRock Inc. now owns 1,679 shares of the company’s stock valued at $37,000 after purchasing an additional 499 shares during the last quarter. Advisor Group Inc. raised its position in shares of Zymeworks by 42.7% in the second quarter. Advisor Group Inc. now owns 1,806 shares of the company’s stock valued at $40,000 after purchasing an additional 540 shares during the period. Bank of Montreal Can lifted its stake in shares of Zymeworks by 36.1% during the 1st quarter. Bank of Montreal Can now owns 5,960 shares of the company’s stock worth $96,000 after buying an additional 1,580 shares during the last quarter. A.R.T. Advisors LLC acquired a new stake in shares of Zymeworks during the 2nd quarter worth about $201,000. Finally, Jane Street Group LLC acquired a new stake in shares of Zymeworks during the 2nd quarter worth about $211,000. 49.95% of the stock is owned by hedge funds and other institutional investors.

Zymeworks Company Profile (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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