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

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc acquired 204,098 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were bought at an average cost of $13.13 per share, for a total transaction of $2,679,806.74. Following the transaction, the director now directly owns 15,411,078 shares of the company’s stock, valued at approximately $202,347,454.14. This trade represents a 1.34 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 bought at an average cost of $14.07 per share, with a total value of $295,765.47.
• On Thursday, January 2nd, Ecor1 Capital, Llc purchased 157,880 shares of Zymeworks stock. The stock was bought at an average cost of $14.78 per share, for a total transaction of $2,333,466.40.
• On Monday, December 30th, Ecor1 Capital, Llc acquired 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 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 purchased at an average cost of $14.38 per share, for a total transaction of $240,030.96.

Zymeworks Stock Down 6.4 %

NYSE:ZYME opened at $13.22 on Friday. The company has a market capitalization of $910.57 million, a PE 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 $12.39.

Zymeworks (NYSE:ZYME) last announced its earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.01. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The business had revenue of $16.00 million for the quarter, compared to analyst estimates of $17.90 million. During the same period last year, the firm posted ($0.41) earnings per share. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Zymeworks Inc. will post -1.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ZYME. HC Wainwright reiterated a “neutral” rating and set a $12.00 target price on shares of Zymeworks in a research note on Friday, November 22nd. Stifel Nicolaus increased their price objective on Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a report on Monday, October 28th. Leerink Partners raised Zymeworks from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $10.00 to $25.00 in a research report on Thursday, November 7th. Leerink Partnrs raised Zymeworks from a “hold” rating to a “strong-buy” rating in a 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 price objective on the stock in a report on Monday, December 16th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Zymeworks currently has an average rating of “Moderate Buy” and an average price target of $19.17.

Institutional Investors Weigh In On Zymeworks

A number of institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC increased 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 acquiring an additional 1,525 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in shares of Zymeworks in the third quarter valued at approximately $47,000. nVerses Capital LLC purchased a new stake in shares of Zymeworks during the third quarter worth approximately $79,000. Quest Partners LLC lifted its holdings in shares of Zymeworks by 8,049.6% during the second quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock worth $78,000 after purchasing an additional 9,096 shares during the period. Finally, MQS Management LLC purchased a new position in Zymeworks in the 2nd quarter valued at $92,000. 92.89% of the stock is owned by hedge funds and other institutional investors.

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.