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

Zymeworks Inc. (NYSE:ZYME) EVP Jeffrey Smith sold 9,310 shares of the stock in a transaction that occurred 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 sale, the executive vice president directly owned 26,708 shares of the company’s stock, valued at approximately $605,470.36. This represents a 25.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Zymeworks Stock Performance

NYSE ZYME opened at $23.16 on Tuesday. The stock has a market capitalization of $1.73 billion, a P/E 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. The business’s fifty day moving average is $24.32 and its two-hundred day moving average is $18.42.

Zymeworks (NYSE:ZYME) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.02. The business had revenue of $27.61 million during the quarter, compared to analyst estimates of $33.69 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%.The company’s revenue was up 72.6% compared to the same quarter last year. During the same period last year, the company posted ($0.39) EPS. On average, research analysts forecast that Zymeworks Inc. will post -1.39 earnings per share for the current year.

Institutional Investors Weigh In On Zymeworks

A number of institutional investors have recently modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Zymeworks by 184.2% in 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 valued at $46,210,000 after buying an additional 2,514,834 shares in the last quarter. EcoR1 Capital LLC lifted its stake in Zymeworks by 33.1% in the second quarter. EcoR1 Capital LLC now owns 22,970,388 shares of the company’s stock valued at $288,278,000 after acquiring an additional 5,710,840 shares during the last quarter. Norges Bank bought a new stake in Zymeworks in the second quarter worth approximately $2,531,000. Squarepoint Ops LLC raised its holdings in shares of Zymeworks by 144.6% during the 2nd quarter. Squarepoint Ops LLC now owns 155,599 shares of the company’s stock valued at $1,953,000 after purchasing an additional 91,997 shares in the last quarter. Finally, Tejara Capital Ltd raised its holdings in shares of Zymeworks by 5.7% during the 2nd quarter. Tejara Capital Ltd now owns 200,150 shares of the company’s stock valued at $2,512,000 after purchasing an additional 10,741 shares in the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. JMP Securities set a $32.00 target price on shares of Zymeworks in a report on Wednesday, December 3rd. B. Riley restated a “buy” rating and issued a $40.00 price target (up previously from $30.00) on shares of Zymeworks in a research report on Friday, November 21st. HC Wainwright raised 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. JPMorgan Chase & Co. boosted their target price on shares of Zymeworks from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Finally, Wells Fargo & Company raised Zymeworks from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $25.00 to $33.00 in a research report on Friday, December 12th. Eleven research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $32.82.

Zymeworks Company Profile

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.