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

Zymeworks Inc. (NYSE:ZYME) CEO Kenneth Galbraith sold 57,291 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $14.92, for a total value of $854,781.72. Following the sale, the chief executive officer now owns 47,543 shares of the company’s stock, valued at $709,341.56. This trade represents a 54.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Zymeworks Price Performance

Shares of ZYME opened at $14.46 on Tuesday. The company’s fifty day moving average price is $14.46 and its 200-day moving average price is $12.32. Zymeworks Inc. has a 1-year low of $7.97 and a 1-year high of $17.70. The firm has a market capitalization of $995.98 million, a PE ratio of -9.64 and a beta of 1.10.

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 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 business had revenue of $16.00 million for the quarter, compared to the consensus estimate of $17.90 million. During the same quarter in the previous year, the business earned ($0.41) EPS. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. As a group, research analysts anticipate that Zymeworks Inc. will post -1.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Stifel Nicolaus increased their price target on shares of Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Leerink Partners upgraded shares of Zymeworks from a “market perform” rating to an “outperform” rating and raised their target price for the company from $10.00 to $25.00 in a research note on Thursday, November 7th. Wells Fargo & Company lifted their price target on shares of Zymeworks from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. Leerink Partnrs upgraded Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. upgraded Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 target price on the stock in a research note on Monday, December 16th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Zymeworks currently has an average rating of “Moderate Buy” and a consensus price target of $19.17.

Hedge Funds Weigh In On Zymeworks

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its stake in Zymeworks by 0.5% during 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 period. Arizona State Retirement System lifted its position in Zymeworks by 11.1% during 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 period. FMR LLC lifted its position in 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 during the period. Stifel Financial Corp boosted its holdings in Zymeworks by 2.1% in the third quarter. Stifel Financial Corp now owns 73,654 shares of the company’s stock valued at $924,000 after purchasing an additional 1,540 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Zymeworks by 13.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,695 shares of the company’s stock worth $193,000 after purchasing 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.