Days-to-cover ratio for ZYME declines to 5.01 due to decline in short interest

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Zymeworks BC Inc shares valued at $63,996 were sold by Galbraith Kenneth on Jan 08. At $11.22 per share, Galbraith Kenneth sold 5,706 shares. The insider’s holdings dropped to 23,762 shares worth approximately $0.27 million following the completion of this transaction.

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Also, Moore Paul Andrew sold 2,339 shares, netting a total of over 26,233 in proceeds. Following the sale of shares at $11.22 each, the insider now holds 7,367 shares.

Before that, Astle Christopher had sold 1,431 shares from its account. In a trade valued at $16,050, the SVP & Chief Financial Officer traded Zymeworks BC Inc shares for $11.22 each. Upon closing the transaction, the insider’s holdings decreased to 1,431 shares, worth approximately $73678.99.

Analyzing ZYME Stock Performance

During the last five days, there has been a surge of approximately 4.52%. Over the course of the year, Zymeworks BC Inc shares have jumped approximately 9.05%. Shares of the company reached a 52-week high of $11.68 on 01/10/24 and a 52-week low of $9.64 on 01/18/24. A 50-day SMA is recorded $10.07, while a 200-day SMA reached $8.33. Nevertheless, trading volume fell to 0.23 million shares from 0.31 million shares the previous day.

Support And Resistance Levels for Zymeworks BC Inc (ZYME)

According to the 24-hour chart, there is a support level at 11.19, which, if violated, would cause prices to drop to 11.06. In the upper region, resistance lies at 11.48. The next price resistance is at 11.64. RSI (Relative Strength Index) is 66.12 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.59, which suggests the price will decrease in the coming days. Percent R is at 9.34%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is Zymeworks BC Inc subject to short interest?

Stocks of Zymeworks BC Inc saw a sharp steep in short interest on Jan 11, 2024 dropping by -0.15 million shares to 2.88 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2023 was 3.03 million shares. A decline of -5.21% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.01 of the overall float, the days-to-cover ratio (short ratio) decline to 5.01.

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