Key Points
- EVP Adam Schayowitz sold 13,832 Zymeworks shares at an average price of $25.85, totaling $357,557.20. The sale covered tax-withholding obligations tied to vested equity awards and reduced his direct holdings by 37.35% to 23,205 shares.
- Zymeworks shares opened at $25.79, with a market capitalization of approximately $1.83 billion and a 12-month trading range of $16.00 to $31.34.
- The company’s latest quarterly results missed expectations, reporting a $0.62 per-share loss and $3.23 million in revenue versus estimates of a $0.56 loss and $4.54 million in revenue. Analysts nevertheless maintain a “Moderate Buy” consensus, with an average price target of $40.64.
Zymeworks Inc. (NASDAQ:ZYME - Get Free Report) EVP Adam Schayowitz sold 13,832 shares of the business's stock in a transaction that occurred on Friday, October 9th. The stock was sold at an average price of $25.85, for a total transaction of $357,557.20. Following the completion of the transaction, the executive vice president directly owned 23,205 shares of the company's stock, valued at $599,849.25. This trade represents a 37.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Zymeworks Trading Up 2.1%
Shares of NASDAQ ZYME opened at $25.79 on Friday. The stock has a market capitalization of $1.83 billion, a PE ratio of -12.77 and a beta of 1.17. The stock's fifty day simple moving average is $26.64 and its two-hundred day simple moving average is $25.60. Zymeworks Inc. has a 12-month low of $16.00 and a 12-month high of $31.34.
Zymeworks (NASDAQ:ZYME - Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.06). The company had revenue of $3.23 million during the quarter, compared to analysts' expectations of $4.54 million. Zymeworks had a negative net margin of 405.31% and a negative return on equity of 72.30%. The company's revenue was down 90.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.03 earnings per share. On average, equities analysts predict that Zymeworks Inc. will post 1.20 earnings per share for the current fiscal year.
Institutional Trading of Zymeworks
A number of institutional investors have recently bought and sold shares of the stock. Rubric Capital Management LP increased its stake in Zymeworks by 21.7% during the 1st quarter. Rubric Capital Management LP now owns 7,000,000 shares of the company's stock valued at $175,280,000 after purchasing an additional 1,250,000 shares in the last quarter. BlackRock Inc. purchased a new position in shares of Zymeworks in the second quarter worth $111,122,000. Perceptive Advisors LLC lifted its stake in shares of Zymeworks by 7.6% during the first quarter. Perceptive Advisors LLC now owns 3,510,078 shares of the company's stock worth $87,892,000 after buying an additional 248,228 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Zymeworks by 72.0% during the second quarter. Assenagon Asset Management S.A. now owns 1,252,027 shares of the company's stock worth $32,728,000 after buying an additional 524,041 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Zymeworks by 6.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 743,898 shares of the company's stock valued at $18,627,000 after buying an additional 43,896 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on ZYME shares. B. Riley Financial reiterated a "buy" rating and issued a $44.00 target price (up from $40.00) on shares of Zymeworks in a research note on Monday, August 10th. Stifel Nicolaus set a $46.00 price target on shares of Zymeworks in a report on Friday, August 7th. TD Cowen began coverage on shares of Zymeworks in a research report on Tuesday, September 29th. They issued a "buy" rating and a $34.00 price objective on the stock. Wolfe Research assumed coverage on shares of Zymeworks in a research note on Thursday, September 17th. They set an "outperform" rating for the company. Finally, HC Wainwright increased their target price on shares of Zymeworks from $51.00 to $55.00 and gave the company a "buy" rating in a research report on Wednesday, August 26th. Eleven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $40.64.
Check Out Our Latest Research Report on ZYME
About Zymeworks
(
Get Free Report)
Zymeworks Inc (NASDAQ: ZYME) is a biopharmaceutical company focused on discovering, developing and commercializing engineered antibody-based therapeutics for cancer and other serious diseases. The company's technologies are designed to create bispecific and multispecific antibodies, as well as antibody-drug conjugates that can target tumor cells and deliver therapeutic payloads.
Zymeworks' leading product is zanidatamab, marketed in the United States as Ziihera. The bispecific antibody targets two separate sites on the HER2 protein and received U.S.
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