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 firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $14.92, for a total transaction of $165,761.20. Following the transaction, the executive vice president now directly owns 8,890 shares in the company, valued at approximately $132,638.80. The trade was a 55.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Zymeworks Price Performance

Shares of NYSE ZYME traded down $0.55 during trading hours on Monday, hitting $14.46. 748,126 shares of the company’s stock were exchanged, compared to its average volume of 709,087. The company’s 50-day moving average price is $14.46 and its 200-day moving average price is $12.32. The stock has a market capitalization of $995.98 million, a price-to-earnings ratio of -9.64 and a beta of 1.10. Zymeworks Inc. has a 1-year low of $7.97 and a 1-year high of $17.70.

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

Analyst Ratings Changes

A number of research firms have recently weighed in on ZYME. Leerink Partnrs upgraded shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. HC Wainwright restated a “neutral” rating and set a $12.00 target price on shares of Zymeworks in a report on Friday, November 22nd. JPMorgan Chase & Co. upgraded Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price target for the company in a research note on Monday, December 16th. Leerink Partners raised Zymeworks from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $10.00 to $25.00 in a research note on Thursday, November 7th. Finally, Citigroup upped their target price on Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.17.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC grew its position in Zymeworks by 84.2% during the third quarter. FMR LLC now owns 3,336 shares of the company’s stock worth $42,000 after buying an additional 1,525 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Zymeworks in the 3rd quarter worth approximately $47,000. nVerses Capital LLC acquired a new stake in shares of Zymeworks during the 3rd quarter worth approximately $79,000. Quest Partners LLC increased its position in shares of Zymeworks by 8,049.6% during the second 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 period. Finally, MQS Management LLC acquired a new position in shares of Zymeworks in the second quarter valued at $92,000. Institutional investors own 92.89% of the company’s stock.

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.