Zymeworks (NYSE:ZYME) COO Sells $138,740.40 in Stock

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

Zymeworks Stock Up 3.3%

Shares of ZYME traded up $0.76 during trading hours on Tuesday, hitting $23.92. The company had a trading volume of 946,985 shares, compared to its average volume of 1,354,348. The business has a fifty day moving average of $24.32 and a 200-day moving average of $18.42. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -15.95 and a beta of 1.30. Zymeworks Inc. has a 12 month low of $9.03 and a 12 month high of $28.49.

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

Analysts Set New Price Targets

A number of brokerages recently commented on ZYME. JPMorgan Chase & Co. raised their price target on Zymeworks from $20.00 to $23.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Citizens Jmp began coverage on shares of Zymeworks in a research note on Wednesday, December 3rd. They set a “market outperform” rating and a $32.00 price objective on the stock. Citigroup began coverage on shares of Zymeworks in a research report on Wednesday, December 3rd. They issued an “outperform” rating for the company. Stifel Nicolaus upped their price target on shares of Zymeworks from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, November 19th. Finally, Truist Financial initiated coverage on shares of Zymeworks in a research note on Wednesday, December 17th. They issued a “buy” rating and a $40.00 price objective on the stock. Eleven investment analysts have rated the stock with a Buy rating, According to MarketBeat, Zymeworks has an average rating of “Buy” and an average target price of $32.82.

Institutional Investors Weigh In On Zymeworks

A number of hedge funds have recently made changes to their positions in the stock. Optiver Holding B.V. bought a new stake in shares of Zymeworks during the third quarter worth about $26,000. Quarry LP bought a new position in Zymeworks in the 3rd quarter valued at approximately $50,000. Tower Research Capital LLC TRC boosted its position in Zymeworks by 29.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,947 shares of the company’s stock worth $62,000 after buying an additional 1,131 shares during the period. CWM LLC grew its holdings in Zymeworks by 272.8% during the 2nd quarter. CWM LLC now owns 8,570 shares of the company’s stock worth $108,000 after acquiring an additional 6,271 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in Zymeworks by 157.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 10,307 shares of the company’s stock worth $129,000 after purchasing an additional 6,307 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

About Zymeworks

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.