Zymeworks (NASDAQ:ZYME) EVP Adam Schayowitz Sells 13,832 Shares of Stock

Zymeworks Inc. (NASDAQ:ZYME) EVP Adam Schayowitz sold 13,832 shares of the business’s stock in a transaction on Friday, October 9th. The stock was sold at an average price of $25.85, for a total transaction of $357,557.20. Following the completion of the sale, the executive vice president owned 23,205 shares in the company, valued at $599,849.25. This represents a 37.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Zymeworks Stock Up 2.1%

ZYME stock opened at $25.79 on Friday. Zymeworks Inc. has a 52 week low of $16.00 and a 52 week high of $31.34. The company has a fifty day simple moving average of $26.64 and a two-hundred day simple moving average of $25.60. The firm has a market capitalization of $1.83 billion, a P/E ratio of -12.77 and a beta of 1.17.

Zymeworks (NASDAQ:ZYME) last posted its earnings results on Friday, August 7th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.06). The business had revenue of $3.23 million during the quarter, compared to the consensus estimate of $4.54 million. Zymeworks had a negative return on equity of 72.30% and a negative net margin of 405.31%. The business’s quarterly revenue was down 90.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.03 earnings per share. As a group, analysts anticipate that Zymeworks Inc. will post 1.20 EPS for the current year.

Institutional Trading of Zymeworks

Large investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Zymeworks in the second quarter valued at about $111,122,000. Rubric Capital Management LP grew its holdings in Zymeworks by 21.7% during the 1st quarter. Rubric Capital Management LP now owns 7,000,000 shares of the company’s stock worth $175,280,000 after acquiring an additional 1,250,000 shares in the last quarter. Perceptive Advisors LLC increased its position in Zymeworks by 56.0% during the 4th quarter. Perceptive Advisors LLC now owns 3,261,850 shares of the company’s stock valued at $85,885,000 after purchasing an additional 1,171,187 shares during the period. Assenagon Asset Management S.A. increased its position in Zymeworks by 72.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,252,027 shares of the company’s stock valued at $32,728,000 after purchasing an additional 524,041 shares during the period. Finally, Deutsche Bank AG bought a new stake in shares of Zymeworks in the 2nd quarter valued at about $10,383,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ZYME shares. Citizens Jmp reaffirmed a “market outperform” rating and issued a $32.00 price objective on shares of Zymeworks in a research note on Wednesday, August 26th. HC Wainwright increased their price target on Zymeworks from $51.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, August 26th. B. Riley Financial restated a “buy” rating and issued a $44.00 price target (up from $40.00) on shares of Zymeworks in a research report on Monday, August 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zymeworks in a research note on Friday, July 17th. Finally, Truist Financial boosted their price objective on shares of Zymeworks from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday. Eleven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Zymeworks presently has an average rating of “Moderate Buy” and an average target price of $40.64.

Zymeworks Company Profile

Zymeworks Inc (NASDAQ: ZYME) is a biopharmaceutical company focused on discovering, developing and commercializing engineered antibody-based therapeutics for cancer and other serious diseases. The company’s technologies are designed to create bispecific and multispecific antibodies, as well as antibody-drug conjugates that can target tumor cells and deliver therapeutic payloads.

Zymeworks’ leading product is zanidatamab, marketed in the United States as Ziihera. The bispecific antibody targets two separate sites on the HER2 protein and received U.S.