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 firm’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 sale, the insider now directly owns 14,741 shares in the company, valued at approximately $219,935.72. This represents a 58.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Zymeworks Stock Down 1.3 %

ZYME stock opened at $14.13 on Thursday. Zymeworks Inc. has a 52 week low of $7.97 and a 52 week high of $17.70. The firm has a market capitalization of $973.25 million, a P/E ratio of -9.42 and a beta of 1.10. The company has a fifty day simple moving average of $14.48 and a two-hundred day simple moving average of $12.38.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $17.90 million. During the same quarter last year, the firm earned ($0.41) EPS. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. As a group, analysts anticipate that Zymeworks Inc. will post -1.43 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ZYME shares. Stifel Nicolaus lifted their target price on Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Leerink Partnrs raised shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. raised shares of Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 target price for the company in a research note on Monday, December 16th. HC Wainwright reiterated a “neutral” rating and issued a $12.00 price target on shares of Zymeworks in a research note on Friday, November 22nd. Finally, Wells Fargo & Company raised their price objective on Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $19.17.

Hedge Funds Weigh In On Zymeworks

Several large investors have recently modified their holdings of ZYME. FMR LLC boosted its stake in Zymeworks by 84.2% during the third quarter. FMR LLC now owns 3,336 shares of the company’s stock worth $42,000 after buying an additional 1,525 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of Zymeworks in the 3rd quarter worth about $47,000. nVerses Capital LLC purchased a new position in shares of Zymeworks during the 3rd quarter worth about $79,000. Quest Partners LLC grew its holdings in Zymeworks by 8,049.6% during the 2nd quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock valued at $78,000 after purchasing an additional 9,096 shares during the last quarter. Finally, MQS Management LLC purchased a new stake in Zymeworks in the 2nd quarter worth about $92,000. Institutional investors own 92.89% of the company’s stock.

About Zymeworks

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.