Zymeworks Inc. (NYSE:ZYME) EVP Sells $165,761.20 in Stock

Zymeworks Inc. (NYSE:ZYME) EVP Jeffrey T. L. Smith sold 11,110 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $14.92, for a total value of $165,761.20. Following the sale, the executive vice president now owns 8,890 shares of the company’s stock, valued at approximately $132,638.80. This represents a 55.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Zymeworks Stock Performance

Shares of NYSE ZYME opened at $14.13 on Thursday. The firm has a 50 day moving average price of $14.48 and a two-hundred day moving average price of $12.38. The stock has a market cap of $973.25 million, a P/E ratio of -9.42 and a beta of 1.10. Zymeworks Inc. has a 52-week low of $7.97 and a 52-week high of $17.70.

Zymeworks (NYSE:ZYME) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.01. The business had revenue of $16.00 million during the quarter, compared to the consensus estimate of $17.90 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. Zymeworks’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.41) earnings per share. Analysts predict that Zymeworks Inc. will post -1.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the company. JPMorgan Chase & Co. raised Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 target price for the company in a research note on Monday, December 16th. HC Wainwright reiterated a “neutral” rating and set a $12.00 price objective on shares of Zymeworks in a research report on Friday, November 22nd. Citigroup raised their target price on shares of Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Stifel Nicolaus upped their price target on shares of Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, Leerink Partnrs raised Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Two equities 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 company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.17.

Hedge Funds Weigh In On Zymeworks

Hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its holdings in Zymeworks by 84.2% in the third quarter. FMR LLC now owns 3,336 shares of the company’s stock valued at $42,000 after acquiring an additional 1,525 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Zymeworks in the 3rd quarter valued at $47,000. Quest Partners LLC boosted its stake in shares of Zymeworks by 8,049.6% in the 2nd quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock valued at $78,000 after purchasing an additional 9,096 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Zymeworks during the third quarter worth $79,000. Finally, MQS Management LLC bought a new position in Zymeworks during the second quarter worth $92,000. 92.89% of the stock is currently owned by institutional investors.

About Zymeworks

Zymeworks Inc, a clinical-stage biopharmaceutical company, discovers, develops, and commercializes biotherapeutics for the treatment of cancer. The company’s lead product candidates include zanidatamab, a human epidermal growth factor receptor 2 (HER2) that is in Phase 1, Phase 2, and Phase 3 clinical trials, including certain ongoing pivotal clinical trials; and zanidatamab zovodotin, a HER2 -targeted antibody-drug conjugate that is in Phase 2 clinical trial for the treatment of advanced or metastatic HER2-expressing tumors.