Zymeworks Inc. (NYSE:ZYME) Insider Paul Andrew Moore Sells 21,200 Shares of Stock

Zymeworks Inc. (NYSE:ZYME) insider Paul Andrew Moore sold 21,200 shares of Zymeworks stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $14.92, for a total transaction of $316,304.00. Following the sale, the insider now owns 14,741 shares of the company’s stock, valued at approximately $219,935.72. The trade was a 58.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Zymeworks Stock Performance

Shares of ZYME stock opened at $14.46 on Tuesday. The company has a market capitalization of $995.98 million, a P/E ratio of -9.64 and a beta of 1.10. Zymeworks Inc. has a fifty-two week low of $7.97 and a fifty-two week high of $17.70. The stock has a 50 day moving average price of $14.46 and a two-hundred day moving average price of $12.32.

Zymeworks (NYSE:ZYME) last announced 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 net margin of 182.75% and a negative return on equity of 23.00%. The business had revenue of $16.00 million during the quarter, compared to analysts’ expectations of $17.90 million. During the same quarter in the prior year, the company posted ($0.41) EPS. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. As a group, equities analysts predict that Zymeworks Inc. will post -1.43 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Point72 Asset Management L.P. purchased a new stake in Zymeworks in the 2nd quarter worth approximately $1,683,000. Rubric Capital Management LP lifted its stake in 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 period. State Street Corp boosted its holdings in Zymeworks by 6.1% in the third quarter. State Street Corp now owns 1,171,777 shares of the company’s stock valued at $14,706,000 after acquiring an additional 67,401 shares in the last quarter. Barclays PLC increased its position in Zymeworks by 476.3% during the 3rd quarter. Barclays PLC now owns 154,384 shares of the company’s stock valued at $1,937,000 after purchasing an additional 127,595 shares during the period. Finally, Vestal Point Capital LP raised its holdings in Zymeworks by 39.8% in the 3rd quarter. Vestal Point Capital LP now owns 615,000 shares of the company’s stock worth $7,718,000 after purchasing an additional 175,000 shares in the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ZYME shares. JPMorgan Chase & Co. raised shares of Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price objective for the company in a report on Monday, December 16th. 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. Wells Fargo & Company boosted their target price on Zymeworks from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. Leerink Partnrs upgraded shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Finally, Citigroup lifted their price target on shares of Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Two 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. Based on data from MarketBeat.com, Zymeworks has an average rating of “Moderate Buy” and an average price target of $19.17.

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.