Kenneth Galbraith Sells 57,291 Shares of Zymeworks Inc. (NYSE:ZYME) Stock

Zymeworks Inc. (NYSE:ZYME) CEO Kenneth Galbraith sold 57,291 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $14.92, for a total transaction of $854,781.72. Following the transaction, the chief executive officer now owns 47,543 shares in the company, valued at approximately $709,341.56. The trade was a 54.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Zymeworks Price Performance

Shares of ZYME stock traded down $0.55 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 has a 50 day moving average of $14.46 and a 200 day moving average of $12.32. The stock has a market cap of $995.98 million, a P/E ratio of -9.64 and a beta of 1.10. Zymeworks Inc. has a 12 month low of $7.97 and a 12 month high of $17.70.

Zymeworks (NYSE:ZYME) last posted its quarterly earnings results 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 the consensus estimate of $17.90 million. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period last year, the company posted ($0.41) EPS. Sell-side analysts predict that Zymeworks Inc. will post -1.43 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ZYME shares. HC Wainwright reiterated a “neutral” rating and issued a $12.00 price target on shares of Zymeworks in a research note on Friday, November 22nd. JPMorgan Chase & Co. upgraded Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 target price for the company in a research report on Monday, December 16th. Stifel Nicolaus raised their price target on Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Leerink Partnrs raised Zymeworks from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company increased their price objective on shares of Zymeworks from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Zymeworks presently has a consensus rating of “Moderate Buy” and an average price target of $19.17.

Institutional Trading of Zymeworks

Hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its stake in shares of Zymeworks by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 132,798 shares of the company’s stock valued at $1,667,000 after acquiring an additional 650 shares during the last quarter. Arizona State Retirement System raised its position in Zymeworks by 11.1% in the second quarter. Arizona State Retirement System now owns 12,841 shares of the company’s stock valued at $109,000 after purchasing an additional 1,285 shares during the last quarter. FMR LLC boosted its stake in shares of Zymeworks by 84.2% during the third quarter. FMR LLC now owns 3,336 shares of the company’s stock valued at $42,000 after purchasing an additional 1,525 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of Zymeworks by 2.1% during the third quarter. Stifel Financial Corp now owns 73,654 shares of the company’s stock worth $924,000 after purchasing an additional 1,540 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Zymeworks by 13.2% in the second quarter. The Manufacturers Life Insurance Company now owns 22,695 shares of the company’s stock valued at $193,000 after buying an additional 2,653 shares during the period. Institutional investors and hedge funds own 92.89% of the company’s stock.

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.