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 dated Monday, January 6th. The stock was sold at an average price of $14.92, for a total value 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 approximately $132,638.80. This represents a 55.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Zymeworks Trading Down 3.7 %

Shares of NYSE:ZYME opened at $14.46 on Tuesday. Zymeworks Inc. has a 12-month low of $7.97 and a 12-month high of $17.70. The company has a market capitalization of $995.98 million, a PE ratio of -9.64 and a beta of 1.10. The business has a 50 day moving average of $14.46 and a two-hundred day moving average of $12.32.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $16.00 million during the quarter, compared to the consensus estimate of $17.90 million. During the same period in the previous year, the company posted ($0.41) earnings per share. Zymeworks’s revenue for the quarter was down 3.1% on a year-over-year basis. Equities research analysts predict that Zymeworks Inc. will post -1.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ZYME shares. Stifel Nicolaus lifted their target price on Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, October 28th. JPMorgan Chase & Co. raised Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 target price for the company in a report on Monday, December 16th. 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 lifted their target price on Zymeworks from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. Finally, Leerink Partners raised Zymeworks from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $10.00 to $25.00 in a report on Thursday, November 7th. Two 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 stock. According to MarketBeat.com, Zymeworks presently has an average rating of “Moderate Buy” and an average price target of $19.17.

Institutional Trading of Zymeworks

Institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC increased its position in shares of Zymeworks by 84.2% in the third quarter. FMR LLC now owns 3,336 shares of the company’s stock valued at $42,000 after buying an additional 1,525 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Zymeworks in the third quarter valued at approximately $47,000. nVerses Capital LLC purchased a new stake in shares of Zymeworks in the third quarter valued at approximately $79,000. Quest Partners LLC increased its position in shares of Zymeworks by 8,049.6% in the second quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock valued at $78,000 after buying an additional 9,096 shares in the last quarter. Finally, MQS Management LLC purchased a new stake in shares of Zymeworks in the second quarter valued at approximately $92,000. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

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.