Zymeworks (NYSE:ZYME) EVP Jeffrey Smith Sells 9,310 Shares

Zymeworks Inc. (NYSE:ZYME) EVP Jeffrey Smith sold 9,310 shares of the stock in a transaction on Monday, January 12th. The shares were 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 approximately $605,470.36. This represents a 25.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Zymeworks Trading Down 0.0%

Shares of Zymeworks stock traded down $0.01 during trading on Monday, hitting $23.16. 1,062,235 shares of the stock were exchanged, compared to its average volume of 1,412,548. The company has a fifty day moving average price of $24.32 and a 200-day moving average price of $18.42. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of -15.44 and a beta of 1.30. Zymeworks Inc. has a 1-year low of $9.03 and a 1-year high of $28.49.

Zymeworks (NYSE:ZYME) last released its quarterly earnings data 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 firm had revenue of $27.61 million for the quarter, compared to analyst estimates of $33.69 million. During the same quarter in the prior year, the company earned ($0.39) earnings per share. The business’s revenue for the quarter was up 72.6% compared to the same quarter last year. Equities research analysts forecast that Zymeworks Inc. will post -1.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Leerink Partners set a $37.00 price target on Zymeworks in a research note on Monday, November 17th. Citigroup started coverage on shares of Zymeworks in a research note on Wednesday, December 3rd. They issued an “outperform” rating on the stock. HC Wainwright lifted their price objective on shares of Zymeworks from $26.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Truist Financial began coverage on shares of Zymeworks in a report on Wednesday, December 17th. They issued a “buy” rating and a $40.00 price objective for the company. Finally, Stifel Nicolaus increased their price target on Zymeworks from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, November 19th. Eleven research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $32.82.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. EcoR1 Capital LLC lifted its holdings in shares of Zymeworks by 33.1% during the second quarter. EcoR1 Capital LLC now owns 22,970,388 shares of the company’s stock worth $288,278,000 after purchasing an additional 5,710,840 shares during the period. Rubric Capital Management LP raised its position in Zymeworks by 8.6% during the 2nd quarter. Rubric Capital Management LP now owns 4,710,551 shares of the company’s stock worth $59,117,000 after purchasing an additional 372,107 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Zymeworks by 184.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,879,945 shares of the company’s stock worth $46,210,000 after buying an additional 2,514,834 shares during the period. Vestal Point Capital LP grew its position in shares of Zymeworks by 53.5% in the 3rd quarter. Vestal Point Capital LP now owns 1,765,000 shares of the company’s stock valued at $30,146,000 after buying an additional 615,000 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Zymeworks by 169.2% in the third quarter. Assenagon Asset Management S.A. now owns 1,326,774 shares of the company’s stock valued at $22,661,000 after buying an additional 833,994 shares during the period. Institutional investors own 92.89% of the company’s stock.

About Zymeworks

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.