Ecor1 Capital, Llc Acquires 11,958 Shares of Zymeworks Inc. (NYSE:ZYME) Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc purchased 11,958 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were purchased at an average cost of $14.12 per share, for a total transaction of $168,846.96. Following the purchase, the director now directly owns 14,704,239 shares in the company, valued at approximately $207,623,854.68. This represents a 0.08 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Ecor1 Capital, Llc also recently made the following trade(s):

• On Thursday, December 26th, Ecor1 Capital, Llc bought 16,692 shares of Zymeworks stock. The shares were purchased at an average price of $14.38 per share, for a total transaction of $240,030.96.

Zymeworks Stock Performance

Shares of NYSE ZYME opened at $14.50 on Friday. The firm’s 50 day moving average price is $14.27 and its 200 day moving average price is $12.03. The firm has a market cap of $998.73 million, a P/E ratio of -9.67 and a beta of 1.12. Zymeworks Inc. has a 1 year low of $7.97 and a 1 year high of $17.70.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.01. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The business had revenue of $16.00 million during the quarter, compared to the consensus estimate of $17.90 million. During the same quarter in the previous year, the business earned ($0.41) earnings per share. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. As a group, equities analysts predict that Zymeworks Inc. will post -1.43 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. HC Wainwright reaffirmed a “neutral” rating and set a $12.00 price target on shares of Zymeworks in a research note on Friday, November 22nd. Leerink Partners upgraded shares of Zymeworks from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $10.00 to $25.00 in a research report on Thursday, November 7th. JPMorgan Chase & Co. upgraded shares of Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price target on the stock in a research report on Monday, December 16th. Citigroup lifted their price objective on Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company increased their target price on Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Zymeworks presently has an average rating of “Moderate Buy” and a consensus target price of $19.17.

Hedge Funds Weigh In On Zymeworks

A number of large investors have recently bought and sold shares of the stock. FMR LLC increased its holdings in shares of Zymeworks by 84.2% during the 3rd quarter. FMR LLC now owns 3,336 shares of the company’s stock worth $42,000 after buying an additional 1,525 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Zymeworks during the third quarter worth about $47,000. Quest Partners LLC raised its holdings in shares of Zymeworks by 8,049.6% in the 2nd quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock worth $78,000 after purchasing an additional 9,096 shares during the period. nVerses Capital LLC acquired a new position in shares of Zymeworks in the 3rd quarter valued at about $79,000. Finally, MQS Management LLC purchased a new stake in shares of Zymeworks during the 2nd quarter worth about $92,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

About Zymeworks

Zymeworks Inc, a clinical-stage biopharmaceutical company, discovers, develops, and commercializes biotherapeutics for the treatment of cancer. The company’s lead product candidates include zanidatamab, a human epidermal growth factor receptor 2 (HER2) that is in Phase 1, Phase 2, and Phase 3 clinical trials, including certain ongoing pivotal clinical trials; and zanidatamab zovodotin, a HER2 -targeted antibody-drug conjugate that is in Phase 2 clinical trial for the treatment of advanced or metastatic HER2-expressing tumors.