Ecor1 Capital, Llc Acquires 58,988 Shares of Zymeworks Inc. (NYSE:ZYME) Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc bought 58,988 shares of Zymeworks stock in a transaction dated Monday, December 30th. The shares were bought at an average cost of $14.47 per share, for a total transaction of $853,556.36. Following the completion of the transaction, the director now owns 14,881,578 shares of the company’s stock, valued at approximately $215,336,433.66. This trade represents a 0.40 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Thursday, January 2nd, Ecor1 Capital, Llc acquired 157,880 shares of Zymeworks stock. The stock was purchased at an average cost of $14.78 per share, for a total transaction of $2,333,466.40.
• On Tuesday, December 24th, Ecor1 Capital, Llc bought 11,958 shares of Zymeworks stock. The shares were purchased at an average cost of $14.12 per share, with a total value of $168,846.96.
• On Thursday, December 26th, Ecor1 Capital, Llc purchased 16,692 shares of Zymeworks stock. The shares were purchased at an average cost of $14.38 per share, for a total transaction of $240,030.96.

Zymeworks Trading Up 1.6 %

Shares of ZYME opened at $15.01 on Friday. The firm has a market cap of $1.03 billion, a PE ratio of -10.01 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 stock has a fifty day moving average price of $14.43 and a 200-day moving average price of $12.23.

Zymeworks (NYSE:ZYME) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share 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 during the quarter, compared to the consensus estimate of $17.90 million. During the same quarter last year, the company earned ($0.41) earnings per share. The company’s quarterly revenue was down 3.1% on a year-over-year basis. As a group, research analysts forecast that Zymeworks Inc. will post -1.43 EPS for the current year.

Institutional Trading of Zymeworks

Several large investors have recently bought and sold shares of the stock. Rubric Capital Management LP lifted its stake in shares of Zymeworks by 12.7% during the second quarter. Rubric Capital Management LP now owns 3,917,331 shares of the company’s stock worth $33,336,000 after buying an additional 441,947 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Zymeworks by 0.8% during the 3rd 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 grew its stake in Zymeworks by 55.2% during the 2nd 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 last quarter. State Street Corp increased its holdings 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 raised its stake in shares of Zymeworks by 127.5% in 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 during the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on ZYME shares. Citigroup upped their price objective on shares of Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Wells Fargo & Company lifted their price objective on shares of Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. Stifel Nicolaus upped their target price on Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, October 28th. HC Wainwright reiterated a “neutral” rating and issued a $12.00 price target on shares of Zymeworks in a report on Friday, November 22nd. Finally, Leerink Partnrs upgraded Zymeworks from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. 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.