Zymeworks Inc. (NYSE:ZYME) Shares Sold by Vestal Point Capital LP

Vestal Point Capital LP lowered its stake in Zymeworks Inc. (NYSE:ZYME) by 69.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 185,000 shares of the company’s stock after selling 430,000 shares during the quarter. Vestal Point Capital LP’s holdings in Zymeworks were worth $2,708,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Sterling Capital Management LLC lifted its holdings in Zymeworks by 781.5% in the fourth quarter. Sterling Capital Management LLC now owns 1,719 shares of the company’s stock worth $25,000 after purchasing an additional 1,524 shares during the period. AlphaQuest LLC lifted its holdings in Zymeworks by 480.2% in the fourth quarter. AlphaQuest LLC now owns 2,808 shares of the company’s stock worth $41,000 after purchasing an additional 2,324 shares during the period. BNP Paribas Financial Markets acquired a new stake in Zymeworks in the fourth quarter worth about $108,000. Tower Research Capital LLC TRC lifted its holdings in Zymeworks by 343.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,704 shares of the company’s stock worth $142,000 after purchasing an additional 7,518 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in Zymeworks in the fourth quarter worth about $151,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ZYME. Lifesci Capital began coverage on shares of Zymeworks in a report on Tuesday, March 11th. They issued an “outperform” rating and a $30.00 price objective for the company. HC Wainwright upped their price target on shares of Zymeworks from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Monday, March 10th. Finally, Citigroup upped their price target on shares of Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a report on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $21.00.

Insiders Place Their Bets

In other Zymeworks news, Director Ecor1 Capital, Llc bought 468,356 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were bought at an average price of $12.48 per share, for a total transaction of $5,845,082.88. Following the acquisition, the director now directly owns 16,802,141 shares of the company’s stock, valued at approximately $209,690,719.68. This trade represents a 2.87% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have purchased 1,350,347 shares of company stock worth $16,137,499. Company insiders own 1.92% of the company’s stock.

Zymeworks Trading Up 1.6%

Shares of NYSE ZYME opened at $11.71 on Monday. Zymeworks Inc. has a twelve month low of $8.21 and a twelve month high of $17.70. The company has a market capitalization of $814.75 million, a price-to-earnings ratio of -7.81 and a beta of 1.24. The firm has a 50-day moving average of $11.82 and a two-hundred day moving average of $13.38.

Zymeworks (NYSE:ZYME) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.15. The company had revenue of $27.11 million during the quarter, compared to the consensus estimate of $20.65 million. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. Zymeworks’s revenue was up 170.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.42) EPS. As a group, research analysts predict that Zymeworks Inc. will post -1.39 earnings per share for the current year.

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.