Insider Selling: Zymeworks Inc. (NYSE:ZYME) Insider Sells 21,200 Shares of Stock

Zymeworks Inc. (NYSE:ZYME) insider Paul Andrew Moore sold 21,200 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $14.92, for a total value of $316,304.00. Following the completion of the sale, the insider now directly owns 14,741 shares of the company’s stock, valued at approximately $219,935.72. This trade represents a 58.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Zymeworks Stock Performance

Zymeworks stock traded down $0.55 during trading hours on Monday, reaching $14.46. 748,126 shares of the stock were exchanged, compared to its average volume of 709,087. Zymeworks Inc. has a 52-week low of $7.97 and a 52-week high of $17.70. The stock has a market cap of $995.98 million, a P/E ratio of -9.64 and a beta of 1.10. The firm’s 50 day moving average is $14.46 and its 200 day moving average is $12.32.

Zymeworks (NYSE:ZYME) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.01. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The firm had revenue of $16.00 million during the quarter, compared to analysts’ expectations of $17.90 million. During the same period in the prior year, the company posted ($0.41) earnings per share. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. Equities research analysts expect that Zymeworks Inc. will post -1.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Zymeworks

A number of large investors have recently modified their holdings of ZYME. Rubric Capital Management LP boosted its stake in shares of Zymeworks by 12.7% in the second quarter. Rubric Capital Management LP now owns 3,917,331 shares of the company’s stock valued at $33,336,000 after buying an additional 441,947 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Zymeworks by 0.8% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,945,491 shares of the company’s stock worth $24,416,000 after purchasing an additional 14,604 shares in the last quarter. Perceptive Advisors LLC grew its stake in shares of Zymeworks by 55.2% during the 2nd quarter. Perceptive Advisors LLC now owns 1,667,711 shares of the company’s stock worth $14,192,000 after purchasing an additional 592,904 shares during the period. State Street Corp increased its holdings in shares of Zymeworks by 6.1% in the 3rd quarter. State Street Corp now owns 1,171,777 shares of the company’s stock valued at $14,706,000 after purchasing an additional 67,401 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Zymeworks by 127.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 715,632 shares of the company’s stock valued at $6,090,000 after purchasing an additional 401,068 shares in the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Leerink Partners upgraded Zymeworks from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $10.00 to $25.00 in a research note on Thursday, November 7th. Leerink Partnrs upgraded shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. upgraded shares of Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price target for the company in a research note on Monday, December 16th. HC Wainwright restated a “neutral” rating and issued a $12.00 price objective on shares of Zymeworks in a research note on Friday, November 22nd. Finally, Stifel Nicolaus increased their target price on shares of Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.17.

Zymeworks Company Profile

Zymeworks Inc, a clinical-stage biopharmaceutical company, discovers, develops, and commercializes biotherapeutics for the treatment of cancer. The company’s lead product candidates include zanidatamab, a human epidermal growth factor receptor 2 (HER2) that is in Phase 1, Phase 2, and Phase 3 clinical trials, including certain ongoing pivotal clinical trials; and zanidatamab zovodotin, a HER2 -targeted antibody-drug conjugate that is in Phase 2 clinical trial for the treatment of advanced or metastatic HER2-expressing tumors.