Zymeworks Inc. (NYSE:ZYME) CEO Sells $854,781.72 in Stock

Zymeworks Inc. (NYSE:ZYME) CEO Kenneth Galbraith sold 57,291 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $14.92, for a total transaction of $854,781.72. Following the sale, the chief executive officer now directly owns 47,543 shares in the company, valued at approximately $709,341.56. The trade was a 54.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Zymeworks Stock Down 1.3 %

Shares of NYSE:ZYME 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 company has a 50-day moving average price of $14.48 and a 200 day moving average price of $12.38. The company has a market cap of $973.25 million, a P/E ratio of -9.42 and a beta of 1.10.

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

Analyst Ratings Changes

Several brokerages recently commented on ZYME. JPMorgan Chase & Co. upgraded shares of Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price target on the stock in a research note on Monday, December 16th. Stifel Nicolaus boosted their target price on Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a report on Monday, October 28th. HC Wainwright restated a “neutral” rating and set a $12.00 price target on shares of Zymeworks in a research note on Friday, November 22nd. 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. Finally, Wells Fargo & Company raised their target price on shares of Zymeworks from $12.00 to $14.00 and gave the stock 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 assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.17.

Hedge Funds Weigh In On Zymeworks

A number of large investors have recently made changes to their positions in ZYME. Rubric Capital Management LP boosted its holdings in Zymeworks by 12.7% during the second quarter. Rubric Capital Management LP now owns 3,917,331 shares of the company’s stock worth $33,336,000 after buying an additional 441,947 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake 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 acquiring an additional 14,604 shares in the last quarter. Perceptive Advisors LLC grew its holdings in shares of Zymeworks by 55.2% in the 2nd quarter. Perceptive Advisors LLC now owns 1,667,711 shares of the company’s stock worth $14,192,000 after acquiring an additional 592,904 shares during the period. State Street Corp increased its stake in 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 raised its holdings in Zymeworks by 127.5% during the second quarter. Dimensional Fund Advisors LP now owns 715,632 shares of the company’s stock worth $6,090,000 after purchasing an additional 401,068 shares during the last quarter. Hedge funds and other 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.