Zymeworks (NYSE:ZYME) Insider Sells $504,761.00 in Stock

Zymeworks Inc. (NYSE:ZYME) insider Paul Andrew Moore sold 20,110 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $25.10, for a total transaction of $504,761.00. Following the completion of the sale, the insider owned 31,212 shares of the company’s stock, valued at approximately $783,421.20. This trade represents a 39.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Zymeworks Stock Performance

Zymeworks stock traded down $1.14 during midday trading on Monday, hitting $25.48. 1,656,581 shares of the company’s stock were exchanged, compared to its average volume of 1,123,084. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of -16.99 and a beta of 1.27. Zymeworks Inc. has a 12-month low of $9.03 and a 12-month high of $28.49. The firm’s 50 day simple moving average is $23.87 and its 200 day simple moving average is $18.03.

Zymeworks (NYSE:ZYME) last announced its earnings results on Thursday, November 6th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.02. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The business had revenue of $27.61 million during the quarter, compared to the consensus estimate of $33.69 million. During the same quarter in the prior year, the firm earned ($0.39) earnings per share. The business’s quarterly revenue was up 72.6% compared to the same quarter last year. On average, equities research analysts forecast that Zymeworks Inc. will post -1.39 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. B. Riley reissued a “buy” rating and issued a $40.00 target price (up previously from $30.00) on shares of Zymeworks in a report on Friday, November 21st. Leerink Partners set a $37.00 price objective on shares of Zymeworks in a research report on Monday, November 17th. Citizens Jmp initiated coverage on shares of Zymeworks in a research report on Wednesday, December 3rd. They set a “market outperform” rating and a $32.00 price objective for the company. HC Wainwright lifted their target price on shares of Zymeworks from $26.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Finally, Truist Financial assumed coverage on shares of Zymeworks in a research report on Wednesday, December 17th. They issued a “buy” rating and a $40.00 price objective for the company. Eleven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Zymeworks presently has a consensus rating of “Buy” and a consensus price target of $32.82.

Institutional Trading of Zymeworks

Institutional investors have recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Zymeworks by 184.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,879,945 shares of the company’s stock valued at $46,210,000 after purchasing an additional 2,514,834 shares during the last quarter. EcoR1 Capital LLC boosted its position in shares of Zymeworks by 33.1% in the 2nd quarter. EcoR1 Capital LLC now owns 22,970,388 shares of the company’s stock worth $288,278,000 after buying an additional 5,710,840 shares in the last quarter. Norges Bank acquired a new stake in Zymeworks in the 2nd quarter valued at about $2,531,000. Squarepoint Ops LLC increased its holdings in Zymeworks by 144.6% during the 2nd quarter. Squarepoint Ops LLC now owns 155,599 shares of the company’s stock valued at $1,953,000 after acquiring an additional 91,997 shares in the last quarter. Finally, Tejara Capital Ltd increased its holdings in Zymeworks by 5.7% during the 2nd quarter. Tejara Capital Ltd now owns 200,150 shares of the company’s stock valued at $2,512,000 after acquiring an additional 10,741 shares in the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Zymeworks Company Profile

Zymeworks Inc is a clinical-stage biopharmaceutical company headquartered in Vancouver, British Columbia, with a focus on the discovery, development and commercialization of multifunctional biotherapeutics. Founded in 2003, the company applies proprietary protein engineering platforms to create novel antibody and protein-based therapies targeting oncology and other serious diseases. Zymeworks is publicly traded on the New York Stock Exchange under the symbol ZYME.

The company’s core technology platforms include Azymetric®, which enables the design of bispecific antibodies capable of engaging two distinct targets simultaneously, and the EFECT™ platform for fine-tuning antibody-drug conjugate properties.