Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc Buys 204,098 Shares

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc purchased 204,098 shares of Zymeworks stock in a transaction dated Friday, January 10th. The shares were acquired at an average cost of $13.13 per share, for a total transaction of $2,679,806.74. Following the completion of the transaction, the director now owns 15,411,078 shares of the company’s stock, valued at approximately $202,347,454.14. This represents a 1.34 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Wednesday, January 8th, Ecor1 Capital, Llc bought 21,021 shares of Zymeworks stock. The shares were acquired at an average price of $14.07 per share, for a total transaction of $295,765.47.
• On Thursday, January 2nd, Ecor1 Capital, Llc purchased 157,880 shares of Zymeworks stock. The stock was acquired at an average price of $14.78 per share, with a total value of $2,333,466.40.
• On Monday, December 30th, Ecor1 Capital, Llc purchased 58,988 shares of Zymeworks stock. The shares were acquired at an average price of $14.47 per share, for a total transaction of $853,556.36.
• On Tuesday, December 24th, Ecor1 Capital, Llc acquired 11,958 shares of Zymeworks stock. The stock was bought at an average cost of $14.12 per share, with a total value of $168,846.96.
• On Thursday, December 26th, Ecor1 Capital, Llc bought 16,692 shares of Zymeworks stock. The shares were bought at an average cost of $14.38 per share, for a total transaction of $240,030.96.

Zymeworks Stock Down 6.4 %

Shares of ZYME opened at $13.22 on Monday. The company has a market capitalization of $910.57 million, a price-to-earnings ratio of -8.81 and a beta of 1.10. Zymeworks Inc. has a 52 week low of $7.97 and a 52 week high of $17.70. The stock’s 50-day moving average price is $14.48 and its 200-day moving average price is $12.48.

Zymeworks (NYSE:ZYME) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.39) EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $17.90 million. During the same quarter in the prior year, the firm posted ($0.41) EPS. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. As a group, equities analysts anticipate that Zymeworks Inc. will post -1.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rubric Capital Management LP lifted its position in shares of Zymeworks by 12.7% during 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 in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Zymeworks by 0.8% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,945,491 shares of the company’s stock worth $24,416,000 after acquiring an additional 14,604 shares during the period. Perceptive Advisors LLC lifted its holdings in 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 in the last quarter. State Street Corp grew its position in shares of Zymeworks by 6.1% in the third quarter. State Street Corp now owns 1,171,777 shares of the company’s stock valued at $14,706,000 after purchasing an additional 67,401 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Zymeworks by 127.5% during the second quarter. Dimensional Fund Advisors LP now owns 715,632 shares of the company’s stock worth $6,090,000 after purchasing an additional 401,068 shares in the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. upgraded shares of Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price objective for the company in a research note on Monday, December 16th. Stifel Nicolaus boosted their price target on Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Leerink Partnrs raised Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Leerink Partners raised 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 report on Thursday, November 7th. Finally, Wells Fargo & Company increased their price target on shares of Zymeworks from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. Two research 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $19.17.

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.