Zymeworks Inc. (NYSE:ZYME) EVP Jeffrey T. L. Smith Sells 11,110 Shares

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

Zymeworks Stock Down 1.0 %

NYSE ZYME opened at $14.31 on Wednesday. The stock’s 50-day simple moving average is $14.47 and its two-hundred day simple moving average is $12.36. Zymeworks Inc. has a twelve month low of $7.97 and a twelve month high of $17.70. The company has a market capitalization of $985.64 million, a price-to-earnings ratio of -9.54 and a beta of 1.10.

Zymeworks (NYSE:ZYME) last announced 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 company had revenue of $16.00 million for the quarter, compared to analysts’ expectations of $17.90 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. Zymeworks’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.41) EPS. On average, equities analysts expect that Zymeworks Inc. will post -1.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ZYME shares. Leerink Partners raised shares of Zymeworks from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $10.00 to $25.00 in a report on Thursday, November 7th. Stifel Nicolaus raised their target price on Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Wells Fargo & Company boosted their price objective on shares of Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. HC Wainwright reiterated a “neutral” rating and issued a $12.00 target price on shares of Zymeworks in a research note on Friday, November 22nd. Finally, Leerink Partnrs upgraded shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.17.

Institutional Investors Weigh In On Zymeworks

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

Zymeworks Company Profile

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.