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

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc bought 157,880 shares of the stock in a transaction on Thursday, January 2nd. The stock was purchased at an average price of $14.78 per share, with a total value of $2,333,466.40. Following the completion of the acquisition, the director now directly owns 15,185,959 shares in the company, valued at approximately $224,448,474.02. This trade represents a 1.05 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

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

Zymeworks Stock Up 1.0 %

ZYME stock opened at $14.78 on Friday. The stock has a market capitalization of $1.02 billion, a PE ratio of -9.85 and a beta of 1.12. Zymeworks Inc. has a 52 week low of $7.97 and a 52 week high of $17.70. The firm has a 50 day moving average of $14.39 and a 200 day moving average of $12.18.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates 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 quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.41) earnings per share. On average, equities research analysts expect that Zymeworks Inc. will post -1.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ZYME shares. Leerink Partners upgraded Zymeworks from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $10.00 to $25.00 in a report on Thursday, November 7th. Citigroup boosted their target price on shares of Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Leerink Partnrs upgraded shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Stifel Nicolaus lifted their price objective 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. Finally, Wells Fargo & Company increased their target price on shares of Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. Two equities 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.17.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Point72 Asset Management L.P. purchased a new stake in Zymeworks in the second quarter valued at approximately $1,683,000. Rubric Capital Management LP lifted its stake in 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 acquiring an additional 441,947 shares during the period. State Street Corp boosted its holdings in shares of Zymeworks by 6.1% in the 3rd quarter. State Street Corp now owns 1,171,777 shares of the company’s stock valued at $14,706,000 after acquiring an additional 67,401 shares during the last quarter. Barclays PLC increased its stake in shares of Zymeworks by 476.3% in the third quarter. Barclays PLC now owns 154,384 shares of the company’s stock worth $1,937,000 after acquiring an additional 127,595 shares during the period. Finally, Vestal Point Capital LP raised its holdings in shares of Zymeworks by 39.8% during the third quarter. Vestal Point Capital LP now owns 615,000 shares of the company’s stock worth $7,718,000 after purchasing an additional 175,000 shares during the last quarter. 92.89% of the stock is owned by institutional investors and hedge funds.

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.