Zymeworks (NASDAQ:ZYME) Stock: Insider Adam Schayowitz Sells 13,832 Shares

Key Points

• Insider sale: EVP Adam Schayowitz sold 13,832 Zymeworks shares for approximately $357,557 to cover tax obligations tied to vested equity awards, reducing his direct ownership by 37.35% to 23,205 shares.
• Stock and financial performance: Zymeworks shares rose 2.1% to $25.79, but the company missed quarterly EPS and revenue expectations, reporting a 90.6% year-over-year revenue decline and continued losses.
• Analyst outlook: Wall Street maintains a “Moderate Buy” consensus, with 11 Buy ratings and a $40.64 average price target—well above the current share price. Institutional investors own approximately 92.89% of the stock.

Zymeworks Inc. (NASDAQ:ZYME - Get Free Report) EVP Adam Schayowitz sold 13,832 shares of the firm's stock in a transaction dated 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 sale, the executive vice president directly owned 23,205 shares of the company's stock, valued at approximately $599,849.25. This represents a 37.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Zymeworks Stock Up 2.1%

Shares of ZYME traded up $0.53 during trading hours on Friday, reaching $25.79. 491,135 shares of the company traded hands, compared to its average volume of 708,974. Zymeworks Inc. has a 12 month low of $16.00 and a 12 month high of $31.34. The company's fifty day moving average price is $26.56 and its two-hundred day moving average price is $25.60. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of -12.77 and a beta of 1.17.

Zymeworks (NASDAQ:ZYME - Get Free Report) last released 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 the consensus estimate of $4.54 million. Zymeworks had a negative return on equity of 72.30% and a negative net margin of 405.31%.Zymeworks's quarterly revenue was down 90.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.03 earnings per share. On average, analysts expect that Zymeworks Inc. will post 1.2 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. B. Riley Financial reiterated a "buy" rating and issued a $44.00 price objective (up from $40.00) on shares of Zymeworks in a report on Monday, August 10th. Citizens Jmp reaffirmed a "market outperform" rating and issued a $32.00 target price on shares of Zymeworks in a research report on Wednesday, August 26th. Citigroup reiterated a "buy" rating and issued a $39.00 price target (up from $38.00) on shares of Zymeworks in a research note on Tuesday, September 29th. HC Wainwright lifted their price target 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. Finally, Truist Financial lifted their price target on shares of Zymeworks from $32.00 to $34.00 and gave the company a "buy" rating in a research report on Wednesday. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $40.64.

Institutional Investors Weigh In On Zymeworks

Hedge funds have recently added to or reduced their stakes in the stock. Nykredit A S bought a new position in shares of Zymeworks during the second quarter valued at $25,000. Caitong International Asset Management Co. Ltd bought a new position in Zymeworks in the 4th quarter worth about $37,000. State of Wyoming bought a new position in Zymeworks in the 2nd quarter worth about $73,000. Allspring Global Investments Holdings LLC grew its position in Zymeworks by 10.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,507 shares of the company's stock valued at $221,000 after purchasing an additional 800 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its position in Zymeworks by 3.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 11,487 shares of the company's stock valued at $288,000 after purchasing an additional 420 shares during the last quarter. 92.89% of the stock is owned by institutional investors.

Zymeworks Company Profile

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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