Paul Andrew Moore Sells 21,200 Shares of Zymeworks Inc. (NYSE:ZYME) Stock

Zymeworks Inc. (NYSE:ZYME) insider Paul Andrew Moore sold 21,200 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $219,935.72. The trade was a 58.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Zymeworks Stock Performance

Shares of NYSE:ZYME traded down $0.55 during trading hours on Monday, reaching $14.46. The stock had a trading volume of 748,126 shares, compared to its average volume of 709,087. Zymeworks Inc. has a 1 year low of $7.97 and a 1 year high of $17.70. The firm’s 50 day moving average is $14.46 and its 200-day moving average is $12.32. The stock has a market capitalization of $995.98 million, a price-to-earnings ratio of -9.64 and a beta of 1.10.

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

Institutional Investors Weigh In On Zymeworks

Several hedge funds and other institutional investors have recently made changes to their positions in ZYME. Barclays PLC boosted its holdings in Zymeworks by 476.3% in the third quarter. Barclays PLC now owns 154,384 shares of the company’s stock valued at $1,937,000 after purchasing an additional 127,595 shares in the last quarter. Jane Street Group LLC lifted its position in shares of Zymeworks by 27.3% during the 3rd quarter. Jane Street Group LLC now owns 80,326 shares of the company’s stock worth $1,008,000 after buying an additional 17,205 shares during the last quarter. State Street Corp lifted its position in shares of Zymeworks by 6.1% during the 3rd quarter. State Street Corp now owns 1,171,777 shares of the company’s stock worth $14,706,000 after buying an additional 67,401 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of Zymeworks by 2.1% in the 3rd quarter. Stifel Financial Corp now owns 73,654 shares of the company’s stock valued at $924,000 after buying an additional 1,540 shares in the last quarter. Finally, Vestal Point Capital LP grew its position in shares of Zymeworks by 39.8% in the 3rd quarter. Vestal Point Capital LP now owns 615,000 shares of the company’s stock valued at $7,718,000 after buying an additional 175,000 shares during the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. 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. Citigroup upped their target price on shares of Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Wells Fargo & Company raised their price target on shares of Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. HC Wainwright reaffirmed a “neutral” rating and set a $12.00 price objective on shares of Zymeworks in a research report on Friday, November 22nd. Finally, Leerink Partnrs upgraded Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Two 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 stock. Based on data from MarketBeat.com, Zymeworks presently has an average rating of “Moderate Buy” and an average price target 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.