Insider Selling: Zymeworks Inc. (NYSE:ZYME) Insider Sells $316,304.00 in Stock

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

Zymeworks Price Performance

Shares of ZYME opened at $14.13 on Thursday. Zymeworks Inc. has a one year low of $7.97 and a one year high of $17.70. The business has a fifty day moving average of $14.48 and a 200 day moving average of $12.38. The firm has a market capitalization of $973.25 million, a P/E ratio of -9.42 and a beta of 1.10.

Zymeworks (NYSE:ZYME) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.01. The firm had revenue of $16.00 million during the quarter, compared to analyst estimates of $17.90 million. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.41) EPS. Analysts expect that Zymeworks Inc. will post -1.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ZYME. Barclays PLC raised its holdings in Zymeworks by 476.3% in the 3rd quarter. Barclays PLC now owns 154,384 shares of the company’s stock worth $1,937,000 after purchasing an additional 127,595 shares during the period. Jane Street Group LLC raised its stake in shares of Zymeworks by 27.3% in the third quarter. Jane Street Group LLC now owns 80,326 shares of the company’s stock worth $1,008,000 after buying an additional 17,205 shares during the period. State Street Corp lifted its position in shares of Zymeworks by 6.1% during the 3rd quarter. State Street Corp now owns 1,171,777 shares of the company’s stock valued at $14,706,000 after buying an additional 67,401 shares in the last quarter. Stifel Financial Corp grew its stake in shares of Zymeworks by 2.1% during the 3rd quarter. Stifel Financial Corp now owns 73,654 shares of the company’s stock valued at $924,000 after acquiring an additional 1,540 shares during the period. Finally, Vestal Point Capital LP increased 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 acquiring an additional 175,000 shares in the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. HC Wainwright reiterated a “neutral” rating and issued a $12.00 target price on shares of Zymeworks in a research note on Friday, November 22nd. Wells Fargo & Company upped their price objective on Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. 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. Leerink Partners raised 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. Finally, Leerink Partnrs raised Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.