Insider Selling: Zymeworks (NYSE:ZYME) EVP Sells $211,057.70 in Stock

Zymeworks Inc. (NYSE:ZYME) EVP Jeffrey Smith sold 9,310 shares of Zymeworks stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $22.67, for a total transaction of $211,057.70. Following the completion of the sale, the executive vice president owned 26,708 shares of the company’s stock, valued at $605,470.36. This trade represents a 25.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Zymeworks Stock Up 2.9%

Shares of NYSE:ZYME opened at $24.62 on Thursday. Zymeworks Inc. has a 12-month low of $9.03 and a 12-month high of $28.49. The company’s 50 day moving average price is $24.57 and its two-hundred day moving average price is $18.54. The firm has a market cap of $1.84 billion, a PE ratio of -16.41 and a beta of 1.30.

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ZYME. Citizens Jmp started coverage on shares of Zymeworks in a research note on Wednesday, December 3rd. They set a “market outperform” rating and a $32.00 price objective on the stock. JMP Securities set a $32.00 price objective on shares of Zymeworks in a research note on Wednesday, December 3rd. Leerink Partners set a $37.00 target price on Zymeworks in a report on Monday, November 17th. Stifel Nicolaus lifted their price target on Zymeworks from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, November 19th. Finally, Citigroup initiated coverage on Zymeworks in a report on Wednesday, December 3rd. They set an “outperform” rating for the company. Eleven analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $32.82.

Institutional Trading of Zymeworks

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC lifted its stake in shares of Zymeworks by 28.9% in the 4th quarter. SG Americas Securities LLC now owns 17,557 shares of the company’s stock valued at $462,000 after acquiring an additional 3,933 shares during the last quarter. Tudor Investment Corp ET AL increased its holdings in Zymeworks by 9.6% in the 3rd quarter. Tudor Investment Corp ET AL now owns 37,583 shares of the company’s stock worth $642,000 after purchasing an additional 3,290 shares in the last quarter. PharVision Advisers LLC acquired a new position in Zymeworks in the 3rd quarter worth about $304,000. Vestal Point Capital LP raised its position in Zymeworks by 53.5% in the third quarter. Vestal Point Capital LP now owns 1,765,000 shares of the company’s stock valued at $30,146,000 after purchasing an additional 615,000 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of Zymeworks during the third quarter valued at about $50,000. 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.