Mark Hollywood Sells 6,120 Shares of Zymeworks (NYSE:ZYME) Stock

Zymeworks Inc. (NYSE:ZYME) COO Mark Hollywood sold 6,120 shares of the company’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $22.67, for a total value of $138,740.40. Following the completion of the sale, the chief operating officer directly owned 132,913 shares of the company’s stock, valued at approximately $3,013,137.71. This represents a 4.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Zymeworks Price Performance

Shares of NYSE ZYME opened at $24.62 on Thursday. The stock has a market capitalization of $1.84 billion, a P/E ratio of -16.41 and a beta of 1.30. Zymeworks Inc. has a one year low of $9.03 and a one year high of $28.49. The firm’s 50 day simple moving average is $24.57 and its two-hundred day simple moving average is $18.54.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ZYME shares. Wells Fargo & Company raised Zymeworks from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $25.00 to $33.00 in a research note on Friday, December 12th. Citizens Jmp began coverage on Zymeworks in a research note on Wednesday, December 3rd. They issued a “market outperform” rating and a $32.00 target price for the company. Stifel Nicolaus raised 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. HC Wainwright lifted their price target on Zymeworks from $26.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Finally, Citigroup initiated coverage on Zymeworks in a research report on Wednesday, December 3rd. They issued an “outperform” rating for the company. Eleven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $32.82.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ZYME. SG Americas Securities LLC raised its stake in Zymeworks by 28.9% in the fourth quarter. SG Americas Securities LLC now owns 17,557 shares of the company’s stock worth $462,000 after buying an additional 3,933 shares in the last quarter. Tudor Investment Corp ET AL grew its holdings in shares of Zymeworks by 9.6% during the 3rd quarter. Tudor Investment Corp ET AL now owns 37,583 shares of the company’s stock worth $642,000 after acquiring an additional 3,290 shares during the period. PharVision Advisers LLC bought a new position in shares of Zymeworks in the 3rd quarter worth approximately $304,000. Vestal Point Capital LP lifted its stake 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 purchasing an additional 615,000 shares during the period. Finally, Quarry LP bought a new stake in shares of Zymeworks during the third quarter valued at approximately $50,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

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.