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 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 $316,304.00. Following the completion of the sale, the insider now owns 14,741 shares of the company’s stock, valued at approximately $219,935.72. The trade was a 58.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Zymeworks Stock Performance

Shares of ZYME stock opened at $14.31 on Wednesday. The stock’s 50 day simple moving average is $14.47 and its 200 day simple moving average is $12.36. Zymeworks Inc. has a twelve month low of $7.97 and a twelve month high of $17.70. The company has a market capitalization of $985.64 million, a price-to-earnings ratio of -9.54 and a beta of 1.10.

Zymeworks (NYSE:ZYME) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.39) earnings per share for the quarter, topping 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 business had revenue of $16.00 million during the quarter, compared to analysts’ expectations of $17.90 million. During the same period in the previous year, the company earned ($0.41) earnings per share. Zymeworks’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, analysts forecast that Zymeworks Inc. will post -1.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC increased its stake in shares of Zymeworks by 84.2% in the third quarter. FMR LLC now owns 3,336 shares of the company’s stock worth $42,000 after purchasing an additional 1,525 shares during the period. DekaBank Deutsche Girozentrale bought a new position in Zymeworks in the 3rd quarter worth approximately $47,000. Quest Partners LLC lifted its holdings in shares of Zymeworks by 8,049.6% during the second quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock worth $78,000 after buying an additional 9,096 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of Zymeworks in the third quarter valued at approximately $79,000. Finally, MQS Management LLC acquired a new stake in shares of Zymeworks in the second quarter worth $92,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

Analyst Upgrades and Downgrades

ZYME has been the subject of several recent research reports. Leerink Partners upgraded Zymeworks from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $10.00 to $25.00 in a report on Thursday, November 7th. Wells Fargo & Company lifted their price target on Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. Leerink Partnrs raised Zymeworks from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Stifel Nicolaus lifted their target price on shares of Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Finally, HC Wainwright reissued a “neutral” rating and issued a $12.00 target price on shares of Zymeworks in a research report on Friday, November 22nd. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.17.

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.