Ecor1 Capital, Llc Purchases 16,692 Shares of Zymeworks Inc. (NYSE:ZYME) Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc acquired 16,692 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were bought at an average cost of $14.38 per share, with a total value of $240,030.96. Following the acquisition, the director now directly owns 14,720,931 shares in the company, valued at approximately $211,686,987.78. The trade was a 0.11 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Tuesday, December 24th, Ecor1 Capital, Llc bought 11,958 shares of Zymeworks stock. The stock was purchased at an average price of $14.12 per share, for a total transaction of $168,846.96.

Zymeworks Stock Performance

ZYME stock opened at $14.50 on Friday. The stock has a market cap of $998.73 million, a PE ratio of -9.67 and a beta of 1.12. Zymeworks Inc. has a 12 month low of $7.97 and a 12 month high of $17.70. The company has a 50-day moving average price of $14.27 and a 200 day moving average price of $12.03.

Zymeworks (NYSE:ZYME) last announced its earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $17.90 million. During the same quarter in the previous year, the business earned ($0.41) earnings per share. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. Sell-side analysts forecast that Zymeworks Inc. will post -1.43 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ZYME. Wells Fargo & Company lifted their price objective on Zymeworks from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 19th. HC Wainwright restated a “neutral” rating and issued a $12.00 price target on shares of Zymeworks in a research report on Friday, November 22nd. Citigroup increased their price objective on shares of Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Leerink Partners upgraded shares of Zymeworks from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $10.00 to $25.00 in a report on Thursday, November 7th. Finally, Stifel Nicolaus increased their price target on shares of Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a report on Monday, October 28th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.17.

Institutional Trading of Zymeworks

A number of hedge funds and other institutional investors have recently bought and sold shares of ZYME. Perceptive Advisors LLC boosted its stake in shares of Zymeworks by 55.2% during the second quarter. Perceptive Advisors LLC now owns 1,667,711 shares of the company’s stock valued at $14,192,000 after purchasing an additional 592,904 shares during the period. Rubric Capital Management LP boosted its position in Zymeworks by 12.7% in the 2nd quarter. Rubric Capital Management LP now owns 3,917,331 shares of the company’s stock valued at $33,336,000 after buying an additional 441,947 shares during the period. Dimensional Fund Advisors LP grew its stake in Zymeworks by 127.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 715,632 shares of the company’s stock worth $6,090,000 after acquiring an additional 401,068 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Zymeworks during the third quarter worth approximately $4,156,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Zymeworks during the second quarter valued at approximately $1,683,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Zymeworks Company Profile

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.