Zymeworks (NYSE:ZYME) CEO Kenneth Galbraith Sells 54,343 Shares of Stock

Zymeworks Inc. (NYSE:ZYME) CEO Kenneth Galbraith sold 54,343 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $25.10, for a total transaction of $1,364,009.30. Following the sale, the chief executive officer directly owned 158,286 shares of the company’s stock, valued at approximately $3,972,978.60. The trade was a 25.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Kenneth Galbraith also recently made the following trade(s):

• On Monday, December 22nd, Kenneth Galbraith sold 47,528 shares of Zymeworks stock. The stock was sold at an average price of $27.02, for a total value of $1,284,206.56.

Zymeworks Price Performance

NYSE ZYME opened at $25.48 on Tuesday. The stock’s 50 day simple moving average is $23.87 and its 200 day simple moving average is $18.03. Zymeworks Inc. has a one year low of $9.03 and a one year high of $28.49. The firm has a market cap of $1.91 billion, a PE ratio of -16.99 and a beta of 1.30.

Zymeworks (NYSE:ZYME) last issued 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. The firm had revenue of $27.61 million during the quarter, compared to the consensus estimate of $33.69 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%.The business’s revenue for the quarter was up 72.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.39) EPS. As a group, equities analysts expect that Zymeworks Inc. will post -1.39 earnings per share for the current year.

Institutional Investors Weigh In On Zymeworks

Institutional investors have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Zymeworks by 184.2% during the first 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 acquiring an additional 2,514,834 shares in the last quarter. EcoR1 Capital LLC raised its position 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. Norges Bank acquired a new position in shares of Zymeworks in the 2nd quarter valued at approximately $2,531,000. Squarepoint Ops LLC increased its stake in Zymeworks by 144.6% during the 2nd quarter. Squarepoint Ops LLC now owns 155,599 shares of the company’s stock worth $1,953,000 after purchasing an additional 91,997 shares in the last quarter. Finally, Tejara Capital Ltd raised its holdings in Zymeworks by 5.7% during the 2nd quarter. Tejara Capital Ltd now owns 200,150 shares of the company’s stock worth $2,512,000 after buying an additional 10,741 shares during the period. 92.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ZYME has been the subject of several research reports. Leerink Partners set a $37.00 price objective on shares of Zymeworks in a research report on Monday, November 17th. B. Riley reissued a “buy” rating and set a $40.00 price target (up from $30.00) on shares of Zymeworks in a research note on Friday, November 21st. Stifel Nicolaus boosted their price objective on shares of Zymeworks from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, November 19th. JMP Securities set a $32.00 price objective on Zymeworks in a report on Wednesday, December 3rd. Finally, JPMorgan Chase & Co. increased their price objective on Zymeworks from $20.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Eleven research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $32.82.

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.