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 Zymeworks stock in a transaction on Monday, January 6th. The stock was sold at an average price of $14.92, for a total value of $165,761.20. Following the sale, the executive vice president now owns 8,890 shares of the company’s stock, valued at approximately $132,638.80. This trade represents a 55.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Zymeworks Trading Down 3.7 %

Shares of Zymeworks stock opened at $14.46 on Tuesday. The stock’s fifty day moving average price is $14.46 and its 200-day moving average price is $12.32. Zymeworks Inc. has a 12 month low of $7.97 and a 12 month high of $17.70. The firm has a market cap of $995.98 million, a P/E ratio of -9.64 and a beta of 1.10.

Zymeworks (NYSE:ZYME) last posted its earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share (EPS) 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 company had revenue of $16.00 million for the quarter, compared to analyst estimates of $17.90 million. During the same quarter in the previous year, the firm earned ($0.41) earnings per share. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. Analysts forecast that Zymeworks Inc. will post -1.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ZYME shares. 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 research report on Thursday, December 19th. JPMorgan Chase & Co. upgraded Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 target price for the company in a research report on Monday, December 16th. Leerink Partners upgraded 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 research report on Thursday, November 7th. HC Wainwright restated a “neutral” rating and set a $12.00 price target on shares of Zymeworks in a research note on Friday, November 22nd. Finally, Stifel Nicolaus raised their price target on Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.17.

Hedge Funds Weigh In On Zymeworks

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZYME. FMR LLC grew its stake in 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 purchasing an additional 1,525 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Zymeworks in the third quarter worth about $47,000. Quest Partners LLC boosted its holdings in Zymeworks by 8,049.6% in the second quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock worth $78,000 after acquiring an additional 9,096 shares in the last quarter. nVerses Capital LLC acquired a new stake in Zymeworks in the third quarter worth about $79,000. Finally, MQS Management LLC acquired a new stake in Zymeworks in the second quarter worth about $92,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

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.