Jeffrey T. L. Smith Sells 11,110 Shares of Zymeworks Inc. (NYSE:ZYME) Stock

Zymeworks Inc. (NYSE:ZYME) EVP Jeffrey T. L. Smith sold 11,110 shares of Zymeworks stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 8,890 shares of the company’s stock, valued at approximately $132,638.80. The trade was a 55.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Zymeworks Stock Performance

Zymeworks stock opened at $14.31 on Wednesday. Zymeworks Inc. has a fifty-two week low of $7.97 and a fifty-two week high of $17.70. The firm’s 50-day simple moving average is $14.47 and its 200 day simple moving average is $12.36. The stock has a market cap of $985.64 million, a PE ratio of -9.54 and a beta of 1.10.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Point72 Asset Management L.P. purchased a new position in shares of Zymeworks in the 2nd quarter worth about $1,683,000. Rubric Capital Management LP raised its position in Zymeworks by 12.7% in the second quarter. Rubric Capital Management LP now owns 3,917,331 shares of the company’s stock worth $33,336,000 after acquiring an additional 441,947 shares during the period. Barclays PLC boosted its stake in Zymeworks by 476.3% in the third quarter. Barclays PLC now owns 154,384 shares of the company’s stock valued at $1,937,000 after acquiring an additional 127,595 shares during the last quarter. State Street Corp grew 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 acquiring an additional 67,401 shares during the period. Finally, Vestal Point Capital LP increased its stake in shares of Zymeworks by 39.8% during the 3rd quarter. Vestal Point Capital LP now owns 615,000 shares of the company’s stock worth $7,718,000 after purchasing an additional 175,000 shares during the last quarter. Institutional investors own 92.89% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on ZYME shares. Stifel Nicolaus increased their target price on shares of Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Leerink Partnrs raised shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. HC Wainwright reaffirmed a “neutral” rating and issued a $12.00 target price on shares of Zymeworks in a research report on Friday, November 22nd. JPMorgan Chase & Co. upgraded Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price target on the stock in a report on Monday, December 16th. Finally, Wells Fargo & Company boosted their price objective on Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.17.

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.