Zymeworks (NYSE:ZYME) EVP Jeffrey Smith Sells 10,538 Shares

Zymeworks Inc. (NYSE:ZYME) EVP Jeffrey Smith sold 10,538 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $25.10, for a total transaction of $264,503.80. Following the completion of the transaction, the executive vice president owned 18,352 shares of the company’s stock, valued at $460,635.20. This represents a 36.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Zymeworks Stock Performance

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

Zymeworks (NYSE:ZYME) last announced its earnings results on Thursday, November 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.02. The firm had revenue of $27.61 million during the quarter, compared to analysts’ expectations 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 was up 72.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.39) EPS. On average, equities research analysts forecast that Zymeworks Inc. will post -1.39 EPS for the current fiscal year.

Institutional Trading of Zymeworks

Several hedge funds and other institutional investors have recently made changes to their positions in ZYME. Optiver Holding B.V. purchased a new position in Zymeworks during the third quarter worth about $26,000. Quarry LP acquired a new position in Zymeworks during the 3rd quarter worth approximately $50,000. Tower Research Capital LLC TRC raised its stake in shares of Zymeworks by 29.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,947 shares of the company’s stock worth $62,000 after buying an additional 1,131 shares in the last quarter. CWM LLC lifted its holdings in shares of Zymeworks by 272.8% in the 2nd quarter. CWM LLC now owns 8,570 shares of the company’s stock valued at $108,000 after buying an additional 6,271 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in shares of Zymeworks by 157.7% in the second quarter. BNP Paribas Financial Markets now owns 10,307 shares of the company’s stock valued at $129,000 after buying an additional 6,307 shares in the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ZYME shares. JPMorgan Chase & Co. lifted their target price on shares of Zymeworks from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Wells Fargo & Company upgraded shares of Zymeworks from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $25.00 to $33.00 in a research note on Friday, December 12th. HC Wainwright increased their target price 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. Leerink Partners set a $37.00 price target on Zymeworks in a research report on Monday, November 17th. Finally, B. Riley reaffirmed a “buy” rating and set a $40.00 price objective (up from $30.00) on shares of Zymeworks in a research note on Friday, November 21st. Eleven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target 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.