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 business’s stock in a transaction that occurred 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 transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Zymeworks Stock Performance

ZYME stock opened at $14.13 on Thursday. Zymeworks Inc. has a 52 week low of $7.97 and a 52 week high of $17.70. The company has a market capitalization of $973.25 million, a PE ratio of -9.42 and a beta of 1.10. The company’s 50-day simple moving average is $14.48 and its 200 day simple moving average is $12.38.

Zymeworks (NYSE:ZYME) last announced its earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $16.00 million for the quarter, compared to analyst estimates of $17.90 million. During the same quarter in the prior year, the business posted ($0.41) EPS. The business’s revenue was down 3.1% compared to the same quarter last year. On average, analysts forecast that Zymeworks Inc. will post -1.43 EPS for the current year.

Hedge Funds Weigh In On Zymeworks

A number of hedge funds have recently added to or reduced their stakes in ZYME. Bank of New York Mellon Corp grew its holdings in shares of Zymeworks by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 309,703 shares of the company’s stock worth $2,636,000 after purchasing an additional 14,825 shares in the last quarter. Principal Financial Group Inc. grew its stake in Zymeworks by 18.0% during the second quarter. Principal Financial Group Inc. now owns 30,642 shares of the company’s stock worth $261,000 after buying an additional 4,671 shares in the last quarter. Rhumbline Advisers grew its stake in Zymeworks by 9.0% during the second quarter. Rhumbline Advisers now owns 86,912 shares of the company’s stock worth $740,000 after buying an additional 7,210 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Zymeworks by 23.5% in the 2nd quarter. Victory Capital Management Inc. now owns 58,300 shares of the company’s stock valued at $496,000 after buying an additional 11,100 shares during the period. Finally, Arizona State Retirement System raised its position in shares of Zymeworks by 11.1% in the 2nd quarter. Arizona State Retirement System now owns 12,841 shares of the company’s stock valued at $109,000 after buying an additional 1,285 shares in the last quarter. Institutional investors own 92.89% of the company’s stock.

Wall Street Analysts Forecast Growth

ZYME has been the subject of several research analyst reports. Stifel Nicolaus lifted 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. HC Wainwright reaffirmed a “neutral” rating and set a $12.00 price objective on shares of Zymeworks in a research report on Friday, November 22nd. Wells Fargo & Company increased their price objective on shares of Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. Leerink Partnrs raised shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Finally, Citigroup increased their price target on shares of Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a report on Monday, November 4th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Zymeworks currently has an average 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.