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Zymeworks Inc. (NYSE: ZYME) Has Dropped -79.73% So Far This Year. Does That Mean Trouble Ahead?

During the last session, Zymeworks Inc. (NYSE:ZYME)’s traded shares were 1.16 million, with the beta value of the company hitting 1.14. At the end of the trading day, the stock’s price was $6.61, reflecting an intraday gain of 5.59% or $0.35. The 52-week high for the ZYME share is $37.19, that puts it down -462.63 from that peak though still a striking 31.01% gain since the share price plummeted to a 52-week low of $4.56. The company’s market capitalization is $383.84M, and the average intraday trading volume over the past 10 days was 0.71 million shares, and the average trade volume was 1.20 million shares over the past three months.

Zymeworks Inc. (ZYME) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 1.80. ZYME has a Sell rating from 0 analyst(s) out of 11 analysts who have looked at this stock. 2 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 9 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.96.

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Zymeworks Inc. (NYSE:ZYME) trade information

Zymeworks Inc. (ZYME) registered a 5.59% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 5.59% in intraday trading to $6.61 this Thursday, 08/04/22, hitting a weekly high. The stock’s 5-day price performance is 13.18%, and it has moved by 15.76% in 30 days. Based on these gigs, the overall price performance for the year is -79.73%. The short interest in Zymeworks Inc. (NYSE:ZYME) is 11.51 million shares and it means that shorts have 11.2 day(s) to cover.

The consensus price target of analysts on Wall Street is $22.82, which implies an increase of 71.03% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $7.00 and $45.00 respectively. As a result, ZYME is trading at a discount of -580.79% off the target high and -5.9% off the low.

Zymeworks Inc. (ZYME) estimates and forecasts

Statistics show that Zymeworks Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Zymeworks Inc. (ZYME) shares have gone down -15.90% during the last six months, with a year-to-date growth rate more than the industry average at 19.52% against 1.10. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 26.70% this quarter and then jump 22.20% in the quarter after that. In the rating firms’ projections, revenue will decrease -17.60% compared to the previous financial year.

Revenue for the current quarter is expected to be $6.07 million as predicted by 7 analyst(s). Meanwhile, a consensus of 7 analyst(s) estimates revenue growth to $4.97 million by the end of Sep 2022.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -9.10%. While earnings are projected to return -14.70% in 2022, the next five years will return 11.00% per annum.

ZYME Dividends

Zymeworks Inc. is due to release its next quarterly earnings between February 22 and February 28. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Zymeworks Inc. (NYSE:ZYME)’s Major holders

Zymeworks Inc. insiders own 7.12% of total outstanding shares while institutional holders control 89.98%, with the float percentage being 96.88%. Armistice Capital, LLC is the largest shareholder of the company, while 166 institutions own stock in it. As of Mar 30, 2022, the company held over 5.76 million shares (or 9.97% of all shares), a total value of $37.73 million in shares.

The next largest institutional holding, with 5.38 million shares, is of Eventide Asset Management LLC’s that is approximately 9.31% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $35.24 million.

Also, the Mutual Funds coming in first place with the largest holdings of Zymeworks Inc. (ZYME) shares are Mutual Fund Ser Tr-Eventide Healthcare & Life Sciences Fund and iShares NASDAQ Biotechnology ETF. Data provided on Mar 30, 2022 indicates that Mutual Fund Ser Tr-Eventide Healthcare & Life Sciences Fund owns about 5.38 million shares. This amounts to just over 9.31 percent of the company’s overall shares, with a $35.24 million market value. The same data shows that the other fund manager holds slightly less at 0.41 million, or about 0.72% of the stock, which is worth about $2.2 million.

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