Zymeworks Inc. (NYSE:ZYME) Director Acquires $295,765.47 in Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc bought 21,021 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was purchased at an average price of $14.07 per share, for a total transaction of $295,765.47. Following the completion of the purchase, the director now directly owns 15,206,980 shares in the company, valued at $213,962,208.60. The trade was a 0.14 % increase in their position. The transaction 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 Friday, January 10th, Ecor1 Capital, Llc purchased 204,098 shares of Zymeworks stock. The shares were purchased at an average price of $13.13 per share, with a total value of $2,679,806.74.
• On Thursday, January 2nd, Ecor1 Capital, Llc acquired 157,880 shares of Zymeworks stock. The shares were acquired at an average cost 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 stock was acquired at an average cost of $14.47 per share, for a total transaction of $853,556.36.
• On Tuesday, December 24th, Ecor1 Capital, Llc purchased 11,958 shares of Zymeworks stock. The shares were acquired at an average price of $14.12 per share, with a total value of $168,846.96.
• On Thursday, December 26th, Ecor1 Capital, Llc acquired 16,692 shares of Zymeworks stock. The stock was bought at an average price of $14.38 per share, for a total transaction of $240,030.96.

Zymeworks Trading Down 6.4 %

ZYME stock opened at $13.22 on Monday. 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 $14.48 and its 200-day moving average is $12.48. The firm has a market cap of $910.57 million, a P/E ratio of -8.81 and a beta of 1.10.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings results 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 analysts’ expectations of $17.90 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The business’s revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.41) earnings per share. Sell-side analysts forecast that Zymeworks Inc. will post -1.43 EPS for the current year.

Hedge Funds Weigh In On Zymeworks

Several institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Zymeworks by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 132,798 shares of the company’s stock worth $1,667,000 after buying an additional 650 shares in the last quarter. Arizona State Retirement System increased its holdings in Zymeworks by 11.1% during the 2nd quarter. Arizona State Retirement System now owns 12,841 shares of the company’s stock valued at $109,000 after purchasing an additional 1,285 shares in the last quarter. FMR LLC raised its position in Zymeworks by 84.2% in the 3rd quarter. FMR LLC now owns 3,336 shares of the company’s stock valued at $42,000 after purchasing an additional 1,525 shares during the last quarter. Stifel Financial Corp boosted its stake in Zymeworks by 2.1% in the third quarter. Stifel Financial Corp now owns 73,654 shares of the company’s stock worth $924,000 after purchasing an additional 1,540 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Zymeworks by 13.2% during the second quarter. The Manufacturers Life Insurance Company now owns 22,695 shares of the company’s stock worth $193,000 after purchasing an additional 2,653 shares during the last quarter. 92.89% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ZYME. Stifel Nicolaus raised their price target 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. Citigroup lifted their target price on Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. HC Wainwright reaffirmed a “neutral” rating and issued a $12.00 price target on shares of Zymeworks in a report on Friday, November 22nd. Leerink Partnrs raised Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Finally, Leerink Partners upgraded Zymeworks from a “market perform” rating to an “outperform” rating and upped their target price for the company from $10.00 to $25.00 in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $19.17.

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.