Key Points
- Jeffrey Smith, Zymeworks' EVP, sold 10,538 shares on Jan. 5 at an average of $25.10 for proceeds of $264,503.80, cutting his direct stake by 36.48% to 18,352 shares (worth ≈$460,635).
- ZYME shares opened at $25.48 (down 4.3%), trade in a 52-week range of $9.03–$28.49 with a market cap of $1.91B, and Wall Street consensus is largely positive with an average rating of Buy and an average price target of $32.82.
- In its latest quarter Zymeworks reported EPS of -$0.26 (beating estimates of -$0.28) and revenue of $27.61M (below estimates of $33.69M), while showing a steep negative net margin (182.75%) despite revenue rising ~72.6% year-over-year.
Zymeworks Inc. (NYSE:ZYME - Get Free Report) EVP Jeffrey Smith sold 10,538 shares of the company's stock in a transaction on Monday, January 5th. The stock was 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 approximately $460,635.20. This trade represents a 36.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Zymeworks Stock Down 4.3%
Shares of ZYME opened at $25.48 on Tuesday. Zymeworks Inc. has a 52-week low of $9.03 and a 52-week high of $28.49. The company has a 50-day simple moving average of $23.87 and a 200-day simple moving average of $18.03. The company has a market capitalization of $1.91 billion, a PE ratio of -16.99 and a beta of 1.30.
Zymeworks (NYSE:ZYME - Get Free Report) last issued its earnings results on Thursday, November 6th. The company reported ($0.26) earnings per share 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 analyst estimates of $33.69 million. During the same period in the prior year, the business posted ($0.39) earnings per share. The firm's revenue for the quarter was up 72.6% compared to the same quarter last year. On average, research analysts anticipate that Zymeworks Inc. will post -1.39 EPS for the current year.
Institutional Investors Weigh In On Zymeworks
Several hedge funds have recently modified their holdings of the company. Optiver Holding B.V. acquired a new stake in Zymeworks during the third quarter worth approximately $26,000. Quarry LP purchased a new position in Zymeworks during the third quarter worth about $50,000. Tower Research Capital LLC TRC boosted its stake in Zymeworks by 29.6% in 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 last quarter. CWM LLC boosted its stake in Zymeworks by 272.8% in the 2nd quarter. CWM LLC now owns 8,570 shares of the company's stock worth $108,000 after buying an additional 6,271 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in Zymeworks by 157.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 10,307 shares of the company's stock valued at $129,000 after buying an additional 6,307 shares during the period. 92.89% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on ZYME. JMP Securities set a $32.00 price objective on Zymeworks in a report on Wednesday, December 3rd. Citigroup started coverage on Zymeworks in a research note on Wednesday, December 3rd. They set an "outperform" rating for the company. Stifel Nicolaus boosted their price objective on shares of Zymeworks from $30.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, November 19th. Truist Financial assumed coverage on shares of Zymeworks in a report on Wednesday, December 17th. They set a "buy" rating and a $40.00 target price for the company. Finally, Citizens Jmp initiated coverage on shares of Zymeworks in a research report on Wednesday, December 3rd. They set a "market outperform" rating and a $32.00 target price for the company. Eleven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $32.82.
Get Our Latest Report on Zymeworks
Zymeworks Company Profile
(
Get Free Report)
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.
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