Zymeworks Inc (NYSE:ZYME) Short Interest Up 9.1% in December

Zymeworks Inc (NYSE:ZYME) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totalling 529,100 shares, an increase of 9.1% from the December 15th total of 485,000 shares. Approximately 1.7% of the company’s stock are sold short. Based on an average daily trading volume, of 359,800 shares, the days-to-cover ratio is currently 1.5 days.

ZYME stock traded up $0.37 during trading on Thursday, hitting $44.34. 8,745 shares of the company’s stock were exchanged, compared to its average volume of 414,174. The business has a 50-day moving average price of $44.04 and a two-hundred day moving average price of $31.84. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of -35.25 and a beta of 1.52. Zymeworks has a 52-week low of $14.05 and a 52-week high of $47.99. The company has a current ratio of 6.81, a quick ratio of 6.81 and a debt-to-equity ratio of 0.02.

Zymeworks (NYSE:ZYME) last posted its earnings results on Tuesday, November 5th. The company reported ($0.70) earnings per share for the quarter, topping the consensus estimate of ($0.76) by $0.06. The firm had revenue of $7.86 million during the quarter, compared to analysts’ expectations of $7.77 million. Zymeworks had a negative return on equity of 25.72% and a negative net margin of 112.95%. On average, equities research analysts anticipate that Zymeworks will post -2.79 earnings per share for the current fiscal year.

A number of equities analysts have recently commented on ZYME shares. Raymond James set a $60.00 price objective on Zymeworks and gave the stock a “strong-buy” rating in a research report on Tuesday. Stifel Nicolaus reissued a “buy” rating on shares of Zymeworks in a research report on Thursday, November 21st. Zacks Investment Research downgraded Zymeworks from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. ValuEngine downgraded Zymeworks from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. started coverage on Zymeworks in a research report on Monday, December 9th. They set a “neutral” rating and a $43.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $45.33.

Hedge funds and other institutional investors have recently modified their holdings of the business. Truvestments Capital LLC lifted its stake in Zymeworks by 100.0% in the third quarter. Truvestments Capital LLC now owns 1,000 shares of the company’s stock valued at $25,000 after buying an additional 500 shares during the last quarter. BlackRock Inc. lifted its stake in 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 buying an additional 499 shares during the last quarter. HWG Holdings LP lifted its stake in Zymeworks by 181.2% in the third quarter. HWG Holdings LP now owns 1,732 shares of the company’s stock valued at $43,000 after buying an additional 1,116 shares during the last quarter. Cutler Group LP lifted its stake in Zymeworks by 1,050.0% in the third quarter. Cutler Group LP now owns 2,300 shares of the company’s stock valued at $57,000 after buying an additional 2,100 shares during the last quarter. Finally, AE Wealth Management LLC purchased a new stake in Zymeworks in the fourth quarter valued at approximately $243,000. Institutional investors own 54.28% of the company’s stock.

About Zymeworks

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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