The chief scientific officer of Zymeworks is selling $316,390 worth of stock to Investing.com
In a recent transaction involving Zymeworks Inc . (NASDAQ: ), Chief Scientific Officer Paul Andrew Moore made a series of stock transactions on January 6, 2025. Moore sold a total of 21,200 shares of common stock, grossing approximately $316,390. The stock traded at a weighted average price of $14.9241, with individual transactions ranging in price from $14.44 to $15.14. The stock, which has risen over 62% in the past six months according to InvestingPro data, it currently trades close to its estimated fair value.
In addition, Moore acquired 37,166 shares of common stock through the grant of restricted stock units (RSUs) at no cost. These acquisitions were part of a planned vesting plan, with no discretionary sales involved. The sale was made to cover withholding tax 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 on ZYME’s potential.
In other recent news, Zymeworks Inc. it was highlighted by significant progress in earnings and revenue results, analyst promotions and other company developments. The biopharmaceutical company reported a third-quarter 2024 net loss of $99.2 million, showing an improvement over the previous year. JPMorgan upgraded shares of Zymeworks from Neutral to Overperform, setting a new price target of $18.00, while Leerink Partners moved their rating on the stock from Market Perform to Outperform, raising their target price to $26.00.
These upgrades follow the FDA’s accelerated approval of Zymeworks’ biliary tract cancer drug Ziihera, which led to a $25 million regulatory milestone Jazz Pharmaceuticals (NASDAQ:). The company also announced plans to submit investigational new drug applications for two promising antibody-drug conjugates, ZW220 and ZW251, in 2025.
In addition, Zymeworks disclosed changes to its compensation policy for non-employee directors. The company continues to advance its ‘5×5′ strategy for the treatment of solid tumors, notably introducing ZW209 as its fifth candidate. These recent achievements underscore Zymeworks’ commitment to advancing new therapeutic drugs for hard-to-treat cancers.
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