Insider Buying: Zymeworks Inc. (NYSE:ZYME) Director Buys 74,125 Shares of Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc purchased 74,125 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were purchased at an average price of $13.39 per share, for a total transaction of $992,533.75. Following the purchase, the director now owns 15,485,203 shares of the company’s stock, valued at approximately $207,346,868.17. This trade represents a 0.48 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Wednesday, January 15th, Ecor1 Capital, Llc acquired 39,029 shares of Zymeworks stock. The stock was acquired at an average cost of $14.01 per share, with a total value of $546,796.29.
• On Friday, January 10th, Ecor1 Capital, Llc purchased 204,098 shares of Zymeworks stock. The stock was bought at an average cost of $13.13 per share, with a total value of $2,679,806.74.
• On Wednesday, January 8th, Ecor1 Capital, Llc bought 21,021 shares of Zymeworks stock. The stock was bought 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 purchased at an average price 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 purchased at an average price 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 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 purchased 16,692 shares of Zymeworks stock. The shares were acquired at an average cost of $14.38 per share, for a total transaction of $240,030.96.

Zymeworks Stock Down 0.8 %

Shares of NYSE ZYME opened at $13.88 on Friday. Zymeworks Inc. has a 52 week low of $7.97 and a 52 week high of $17.70. The firm has a market cap of $956.03 million, a P/E ratio of -9.25 and a beta of 1.10. The business’s 50 day moving average price is $14.30 and its 200 day moving average price is $12.61.

Zymeworks (NYSE:ZYME) last issued its earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $16.00 million during the quarter, compared to analysts’ expectations of $17.90 million. During the same quarter last year, the company posted ($0.41) earnings per share. The firm’s revenue was down 3.1% compared to the same quarter last year. As a group, research analysts expect that Zymeworks Inc. will post -1.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ZYME. Stifel Nicolaus boosted their target price on Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. raised Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price target for the company in a report on Monday, December 16th. HC Wainwright restated a “neutral” rating and set a $12.00 price objective on shares of Zymeworks in a report on Friday, November 22nd. Wells Fargo & Company increased their price objective 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. Finally, Citigroup upped their price target on shares of Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Zymeworks currently has a consensus rating of “Moderate Buy” and an average price target of $19.17.

Hedge Funds Weigh In On Zymeworks

Institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its holdings in Zymeworks by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 309,703 shares of the company’s stock worth $2,636,000 after acquiring an additional 14,825 shares during the period. Rhumbline Advisers grew its stake in shares of Zymeworks by 9.0% during the 2nd quarter. Rhumbline Advisers now owns 86,912 shares of the company’s stock worth $740,000 after purchasing an additional 7,210 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Zymeworks by 23.5% during the 2nd quarter. Victory Capital Management Inc. now owns 58,300 shares of the company’s stock valued at $496,000 after purchasing an additional 11,100 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Zymeworks by 11.1% in 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 during the period. Finally, Quest Partners LLC boosted its holdings in 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 buying an additional 9,096 shares in the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

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.