Zymeworks Inc (NYSE:ZYME) Major Shareholder Eli & Co Lilly Sells 15,777 Shares

Zymeworks Inc (NYSE:ZYME) major shareholder Eli & Co Lilly sold 15,777 shares of the stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $14.75, for a total value of $232,710.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Eli & Co Lilly also recently made the following trade(s):

  • On Monday, September 24th, Eli & Co Lilly sold 2,027 shares of Zymeworks stock. The stock was sold at an average price of $16.36, for a total value of $33,161.72.
  • On Monday, September 17th, Eli & Co Lilly sold 15,874 shares of Zymeworks stock. The stock was sold at an average price of $14.58, for a total value of $231,442.92.
  • On Thursday, September 13th, Eli & Co Lilly sold 30,959 shares of Zymeworks stock. The stock was sold at an average price of $14.49, for a total value of $448,595.91.
  • On Thursday, August 30th, Eli & Co Lilly sold 5,752 shares of Zymeworks stock. The stock was sold at an average price of $14.31, for a total value of $82,311.12.
  • On Monday, August 13th, Eli & Co Lilly sold 6,429 shares of Zymeworks stock. The shares were sold at an average price of $14.32, for a total value of $92,063.28.
  • On Thursday, August 2nd, Eli & Co Lilly sold 19,400 shares of Zymeworks stock. The shares were sold at an average price of $13.31, for a total value of $258,214.00.

ZYME traded down $0.53 during trading hours on Friday, hitting $13.81. The company’s stock had a trading volume of 79,600 shares, compared to its average volume of 99,863. Zymeworks Inc has a fifty-two week low of $6.87 and a fifty-two week high of $29.00. The stock has a market cap of $501.78 million, a P/E ratio of -24.23 and a beta of 4.52.

Zymeworks (NYSE:ZYME) last issued its quarterly earnings results on Wednesday, August 1st. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.36. The firm had revenue of $22.00 million during the quarter, compared to analyst estimates of $22.00 million. Zymeworks had a negative return on equity of 8.83% and a negative net margin of 14.66%. As a group, equities analysts predict that Zymeworks Inc will post -2.42 EPS for the current fiscal year.

Several analysts recently commented on the company. Raymond James restated a “buy” rating and issued a $27.00 target price on shares of Zymeworks in a research report on Wednesday, August 15th. Citigroup lowered their target price on Zymeworks from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, June 21st. Finally, Canaccord Genuity set a $21.00 target price on Zymeworks and gave the company a “buy” rating in a research report on Wednesday, September 5th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $21.68.

A number of hedge funds and other institutional investors have recently modified their holdings of ZYME. Cubist Systematic Strategies LLC bought a new position in Zymeworks during the 2nd quarter valued at $101,000. Raymond James & Associates bought a new position in Zymeworks during the 2nd quarter valued at $578,000. Millennium Management LLC bought a new position in Zymeworks during the 2nd quarter valued at $1,442,000. Point72 Asset Management L.P. bought a new position in Zymeworks during the 2nd quarter valued at $1,478,000. Finally, Laurion Capital Management LP bought a new position in Zymeworks during the 2nd quarter valued at $1,612,000. 25.07% of the stock is owned by hedge funds and other institutional investors.

Zymeworks Company Profile

Zymeworks Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of bio-therapeutics for the treatment of cancer in Canada. The company's lead product candidate is ZW25, a novel bispecific antibody that is in Phase I clinical trial for the treatment of breast and gastric cancer.

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