In a recent transaction involving Zymeworks Inc . (NASDAQ:ZYME), Chief Scientific Officer Paul Andrew Moore executed a series of stock transactions on January 6, 2025. Moore sold a total of 21,200 shares of common stock, generating approximately $316,390. The shares were sold at a weighted average price of $14.9241, with individual transactions occurring at prices ranging from $14.44 to $15.14. The stock, which has surged over 62% in the past six months according to InvestingPro data, currently trades near its Fair Value estimate.
Additionally, Moore acquired 37,166 shares of common stock through the vesting of restricted stock units (RSUs) at no cost. These acquisitions were part of a scheduled vesting plan, with no discretionary sales involved. The sales were conducted to cover tax withholding obligations and other applicable fees associated with the RSU vesting process. Following these transactions, Moore holds 23,333 shares of Zymeworks common stock. With analyst targets ranging from $12 to $30 and an overall GOOD financial health score, InvestingPro subscribers can access detailed insights and 8 additional key tips about ZYME's potential.
In other recent news, Zymeworks Inc. has been highlighted by significant advancements in its earnings and revenue results, analyst upgrades, and other company developments. The biopharmaceutical company reported a Q3 2024 net loss of $99.2 million, showing an improvement from the previous year. JPMorgan has upgraded Zymeworks' stock rating from Neutral to Overweight, setting a new price target of $18.00, while Leerink Partners has shifted its stock rating from Market Perform to Outperform, raising the price target to $26.00.
These upgrades follow the FDA's accelerated approval of Zymeworks' drug Ziihera for the treatment of biliary tract cancer, leading to a $25 million regulatory milestone payment from Jazz Pharmaceuticals (NASDAQ:JAZZ). The company also announced plans to file Investigational New Drug applications for two promising antibody-drug conjugates, ZW220 and ZW251, in 2025.
In addition, Zymeworks has disclosed changes to its non-employee director compensation policy. The company continues to make strides with its '5x5' strategy for solid tumor treatments, notably introducing ZW209 as its fifth candidate. These recent developments underscore Zymeworks' commitment to advancing novel therapeutics for difficult-to-treat cancers.
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