Jeffrey Smith Sells 10,538 Shares of Zymeworks (NYSE:ZYME) Stock

Zymeworks Inc. (NYSE:ZYME) EVP Jeffrey Smith sold 10,538 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $25.10, for a total transaction of $264,503.80. Following the transaction, the executive vice president directly owned 18,352 shares in the company, valued at $460,635.20. The trade was a 36.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Zymeworks Price Performance

ZYME traded down $1.14 during trading on Monday, hitting $25.48. The company’s stock had a trading volume of 1,656,581 shares, compared to its average volume of 1,123,084. Zymeworks Inc. has a twelve month low of $9.03 and a twelve month high of $28.49. The stock has a market cap of $1.91 billion, a PE ratio of -16.99 and a beta of 1.27. The firm’s 50 day moving average price is $23.87 and its 200-day moving average price is $18.03.

Zymeworks (NYSE:ZYME) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.02. The business had revenue of $27.61 million for the quarter, compared to analysts’ expectations of $33.69 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%.The business’s revenue was up 72.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.39) earnings per share. Equities analysts anticipate that Zymeworks Inc. will post -1.39 earnings per share for the current year.

Institutional Investors Weigh In On Zymeworks

Several institutional investors and hedge funds have recently modified their holdings of ZYME. AQR Capital Management LLC grew its stake in shares of Zymeworks by 86.0% in the first quarter. AQR Capital Management LLC now owns 48,485 shares of the company’s stock valued at $577,000 after buying an additional 22,411 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Zymeworks by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,385 shares of the company’s stock worth $386,000 after acquiring an additional 1,427 shares during the period. Empowered Funds LLC grew its position in Zymeworks by 2.1% in the first quarter. Empowered Funds LLC now owns 360,044 shares of the company’s stock valued at $4,288,000 after acquiring an additional 7,291 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Zymeworks by 184.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,879,945 shares of the company’s stock valued at $46,210,000 after purchasing an additional 2,514,834 shares during the period. Finally, Jane Street Group LLC raised its stake in shares of Zymeworks by 487.0% during the first quarter. Jane Street Group LLC now owns 135,763 shares of the company’s stock valued at $1,617,000 after purchasing an additional 112,636 shares during the period. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on ZYME. Wells Fargo & Company raised shares of Zymeworks from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $25.00 to $33.00 in a research report on Friday, December 12th. JPMorgan Chase & Co. boosted their price objective on shares of Zymeworks from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Truist Financial started coverage on Zymeworks in a research report on Wednesday, December 17th. They issued a “buy” rating and a $40.00 target price on the stock. Stifel Nicolaus lifted their target price on Zymeworks from $30.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, November 19th. Finally, Citizens Jmp initiated coverage on Zymeworks in a research report on Wednesday, December 3rd. They set a “market outperform” rating and a $32.00 price target for the company. Eleven analysts have rated the stock with a Buy rating, According to MarketBeat, Zymeworks currently has an average rating of “Buy” and a consensus target price of $32.82.

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.