Zymeworks (NYSE:ZYME) CEO Sells $689,712.08 in Stock

Zymeworks Inc. (NYSE:ZYME) CEO Kenneth Galbraith sold 30,424 shares of the stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $22.67, for a total transaction of $689,712.08. Following the completion of the sale, the chief executive officer directly owned 226,842 shares in the company, valued at approximately $5,142,508.14. The trade was a 11.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Kenneth Galbraith also recently made the following trade(s):

• On Monday, January 5th, Kenneth Galbraith sold 54,343 shares of Zymeworks stock. The shares were sold at an average price of $25.10, for a total transaction of $1,364,009.30.
• On Monday, December 22nd, Kenneth Galbraith sold 47,528 shares of Zymeworks stock. The shares were sold at an average price of $27.02, for a total transaction of $1,284,206.56.

Zymeworks Stock Performance

ZYME stock traded down $0.01 on Monday, reaching $23.16. The company had a trading volume of 1,062,235 shares, compared to its average volume of 1,412,548. The company’s fifty day moving average is $24.23 and its 200 day moving average is $18.34. The company has a market cap of $1.73 billion, a P/E ratio of -15.44 and a beta of 1.30. Zymeworks Inc. has a 1 year low of $9.03 and a 1 year high of $28.49.

Zymeworks (NYSE:ZYME) last released its quarterly earnings results 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. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The company had revenue of $27.61 million for the quarter, compared to analysts’ expectations of $33.69 million. During the same period last year, the company earned ($0.39) EPS. The firm’s revenue for the quarter was up 72.6% compared to the same quarter last year. On average, sell-side analysts predict that Zymeworks Inc. will post -1.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ZYME shares. Citizens Jmp began coverage on Zymeworks in a research report on Wednesday, December 3rd. They set a “market outperform” rating and a $32.00 price target on the stock. B. Riley reissued a “buy” rating and set a $40.00 target price (up previously from $30.00) on shares of Zymeworks in a report on Friday, November 21st. Stifel Nicolaus raised their target price on shares of Zymeworks from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, November 19th. Leerink Partners set a $37.00 price objective on shares of Zymeworks in a research note on Monday, November 17th. Finally, HC Wainwright raised their price target on Zymeworks from $26.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Eleven analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $32.82.

Institutional Trading of Zymeworks

A number of hedge funds and other institutional investors have recently made changes to their positions in ZYME. Federated Hermes Inc. grew its stake in shares of Zymeworks by 0.3% during the third quarter. Federated Hermes Inc. now owns 182,847 shares of the company’s stock valued at $3,123,000 after purchasing an additional 577 shares during the last quarter. Tower Research Capital LLC TRC raised its stake 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Zymeworks by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,385 shares of the company’s stock valued at $386,000 after purchasing an additional 1,427 shares in the last quarter. Optiver Holding B.V. bought a new stake in shares of Zymeworks during the third quarter worth $26,000. Finally, Bank of Montreal Can raised its stake in shares of Zymeworks by 6.7% in the 2nd quarter. Bank of Montreal Can now owns 27,642 shares of the company’s stock valued at $347,000 after purchasing an additional 1,730 shares during the period. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Zymeworks Company Profile

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.