Insider Selling: Zymeworks Inc. (NYSE:ZYME) EVP Sells 11,110 Shares of Stock

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 completion of the sale, the executive vice president now directly owns 8,890 shares of the company’s stock, valued at $132,638.80. The trade was a 55.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Zymeworks Stock Down 3.7 %

Shares of ZYME traded down $0.55 during mid-day trading on Monday, reaching $14.46. The company’s stock had a trading volume of 748,126 shares, compared to its average volume of 709,087. The company has a market cap of $995.98 million, a price-to-earnings ratio of -9.64 and a beta of 1.10. The business has a fifty day moving average of $14.46 and a 200 day moving average of $12.32. 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 return on equity of 23.00% and a negative net margin of 182.75%. The firm had revenue of $16.00 million during the quarter, compared to the consensus estimate of $17.90 million. During the same period in the prior year, the business earned ($0.41) EPS. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, analysts predict that Zymeworks Inc. will post -1.43 earnings per share for the current year.

Institutional Trading of Zymeworks

Several institutional investors have recently made changes to their positions in the stock. Perceptive Advisors LLC increased its stake in Zymeworks by 55.2% in the 2nd quarter. Perceptive Advisors LLC now owns 1,667,711 shares of the company’s stock valued at $14,192,000 after buying an additional 592,904 shares during the period. Rubric Capital Management LP increased its stake in shares of Zymeworks by 12.7% in the second quarter. Rubric Capital Management LP now owns 3,917,331 shares of the company’s stock worth $33,336,000 after acquiring an additional 441,947 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Zymeworks by 127.5% in the second quarter. Dimensional Fund Advisors LP now owns 715,632 shares of the company’s stock worth $6,090,000 after acquiring an additional 401,068 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Zymeworks during the third quarter worth $4,156,000. Finally, Point72 Asset Management L.P. acquired a new stake in Zymeworks during the second quarter valued at $1,683,000. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ZYME has been the topic of a number of research reports. Stifel Nicolaus boosted their target price on shares of Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Leerink Partners upgraded Zymeworks from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $10.00 to $25.00 in a research report on Thursday, November 7th. Citigroup lifted their target price on Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Wells Fargo & Company upped their target price on Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. Finally, 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 report on Monday, December 16th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.17.

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.