Investors Buy Large Volume of Put Options on Zymeworks (NYSE:ZYME)
Zymeworks Inc (NYSE:ZYME) was the target of unusually large options trading activity on Thursday. Traders purchased 1,975 put options on the company. This is an increase of 854% compared to the average daily volume of 207 put options.
A number of equities analysts recently commented on the company. Citigroup increased their price objective on Zymeworks from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. HC Wainwright dropped their price objective on Zymeworks from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday. Zacks Investment Research downgraded Zymeworks from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Bloom Burton reiterated a “buy” rating on shares of Zymeworks in a report on Sunday, June 14th. Finally, TheStreet downgraded Zymeworks from a “c” rating to a “d+” rating in a report on Thursday, March 26th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Zymeworks has an average rating of “Buy” and an average target price of $50.25.
Shares of ZYME opened at $33.19 on Friday. The company has a 50-day simple moving average of $36.81 and a 200-day simple moving average of $39.26. The firm has a market capitalization of $1.70 billion, a P/E ratio of -8.53 and a beta of 1.15. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.92 and a current ratio of 6.92. Zymeworks has a 52 week low of $20.33 and a 52 week high of $52.75.
Large investors have recently bought and sold shares of the stock. Contravisory Investment Management Inc. acquired a new position in Zymeworks in the second quarter worth about $46,000. Steward Partners Investment Advisory LLC raised its position in Zymeworks by 28.1% in the first quarter. Steward Partners Investment Advisory LLC now owns 1,415 shares of the company’s stock worth $50,000 after purchasing an additional 310 shares in the last quarter. Citigroup Inc. acquired a new position in Zymeworks in the fourth quarter worth about $79,000. Rockefeller Capital Management L.P. raised its position in Zymeworks by 20.8% in the first quarter. Rockefeller Capital Management L.P. now owns 1,888 shares of the company’s stock worth $67,000 after purchasing an additional 325 shares in the last quarter. Finally, Exane Derivatives acquired a new position in Zymeworks in the second quarter worth about $97,000. 72.00% of the stock is owned by hedge funds and other institutional investors.
Zymeworks Company Profile
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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