Ecor1 Capital, Llc Buys 157,880 Shares of Zymeworks Inc. (NYSE:ZYME) Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc acquired 157,880 shares of the stock in a transaction dated Thursday, January 2nd. The shares were bought at an average cost of $14.78 per share, for a total transaction of $2,333,466.40. Following the acquisition, the director now owns 15,185,959 shares in the company, valued at $224,448,474.02. The trade was a 1.05 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Monday, December 30th, Ecor1 Capital, Llc bought 58,988 shares of Zymeworks stock. The shares were bought at an average cost of $14.47 per share, with a total value of $853,556.36.
• On Tuesday, December 24th, Ecor1 Capital, Llc purchased 11,958 shares of Zymeworks stock. The stock was purchased at an average cost of $14.12 per share, for a total transaction of $168,846.96.
• On Thursday, December 26th, Ecor1 Capital, Llc acquired 16,692 shares of Zymeworks stock. The shares were purchased at an average cost of $14.38 per share, with a total value of $240,030.96.

Zymeworks Trading Up 1.6 %

Shares of NYSE:ZYME opened at $15.01 on Friday. The firm has a market capitalization of $1.03 billion, a PE ratio of -10.01 and a beta of 1.12. Zymeworks Inc. has a 1-year low of $7.97 and a 1-year high of $17.70. The business’s 50 day moving average is $14.43 and its 200-day moving average is $12.23.

Zymeworks (NYSE:ZYME) last announced its quarterly 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. The firm had revenue of $16.00 million for the quarter, compared to analyst estimates of $17.90 million. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.41) EPS. On average, sell-side analysts predict that Zymeworks Inc. will post -1.43 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Stifel Nicolaus boosted their target price on shares of Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. 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 research note on Thursday, December 19th. Citigroup lifted their price target on Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Leerink Partners raised Zymeworks from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $10.00 to $25.00 in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised shares of Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 target price on the stock in a research report on Monday, December 16th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.17.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ZYME. FMR LLC raised its stake in Zymeworks by 84.2% during the third quarter. FMR LLC now owns 3,336 shares of the company’s stock worth $42,000 after acquiring an additional 1,525 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Zymeworks during the 3rd quarter worth about $47,000. Quest Partners LLC boosted its position in Zymeworks by 8,049.6% in the second quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock valued at $78,000 after buying an additional 9,096 shares in the last quarter. nVerses Capital LLC bought a new stake in Zymeworks during the third quarter worth about $79,000. Finally, MQS Management LLC bought a new stake in Zymeworks during the second quarter worth about $92,000. Institutional investors and hedge funds 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.