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 on Monday, January 6th. The stock was sold at an average price of $14.92, for a total value of $316,304.00. Following the completion of the sale, the insider now directly owns 14,741 shares in the company, valued at approximately $219,935.72. The trade was a 58.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Zymeworks Stock Down 3.7 %

Shares of NYSE ZYME opened at $14.46 on Tuesday. The firm has a market cap of $995.98 million, a P/E ratio of -9.64 and a beta of 1.10. Zymeworks Inc. has a twelve month low of $7.97 and a twelve month high of $17.70. The company has a 50 day moving average of $14.46 and a 200 day moving average of $12.32.

Zymeworks (NYSE:ZYME) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share for the quarter, topping 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 firm had revenue of $16.00 million during the quarter, compared to analysts’ expectations of $17.90 million. During the same quarter in the previous year, the business earned ($0.41) earnings per share. The company’s revenue was down 3.1% on a year-over-year basis. As a group, equities analysts expect that Zymeworks Inc. will post -1.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ZYME. Stifel Nicolaus upped their target price on shares of Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Leerink Partners raised shares of Zymeworks from a “market perform” rating to an “outperform” rating and raised their target price for the company from $10.00 to $25.00 in a research note on Thursday, November 7th. Wells Fargo & Company boosted their price target on Zymeworks from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. Leerink Partnrs raised Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 target price on the stock in a report on Monday, December 16th. 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 company’s stock. Based on data from MarketBeat.com, Zymeworks has a consensus rating of “Moderate Buy” and a consensus price target of $19.17.

Hedge Funds Weigh In On Zymeworks

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC grew its stake in shares of Zymeworks by 84.2% in the third quarter. FMR LLC now owns 3,336 shares of the company’s stock worth $42,000 after acquiring an additional 1,525 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in Zymeworks in the third quarter worth approximately $47,000. nVerses Capital LLC bought a new stake in Zymeworks in the 3rd quarter worth approximately $79,000. Quest Partners LLC raised its stake in Zymeworks by 8,049.6% during the 2nd quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock valued at $78,000 after buying an additional 9,096 shares during the last quarter. Finally, MQS Management LLC bought a new position in shares of Zymeworks during the 2nd quarter valued at $92,000. Institutional investors own 92.89% of the company’s stock.

About Zymeworks

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.