Ecor1 Capital, Llc Purchases 21,021 Shares of Zymeworks Inc. (NYSE:ZYME) Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc acquired 21,021 shares of Zymeworks stock in a transaction on Wednesday, January 8th. The stock was purchased at an average price of $14.07 per share, with a total value of $295,765.47. Following the purchase, the director now owns 15,206,980 shares of the company’s stock, valued at $213,962,208.60. The trade was a 0.14 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, January 10th, Ecor1 Capital, Llc bought 204,098 shares of Zymeworks stock. The stock was acquired at an average cost of $13.13 per share, for a total transaction 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, for a total transaction of $2,333,466.40.
• On Monday, December 30th, Ecor1 Capital, Llc bought 58,988 shares of Zymeworks stock. The shares were acquired at an average price 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 bought at an average price 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 bought at an average cost of $14.38 per share, with a total value of $240,030.96.

Zymeworks Trading Down 6.4 %

ZYME stock opened at $13.22 on Friday. The company’s 50-day moving average price is $14.48 and its 200 day moving average price is $12.45. Zymeworks Inc. has a 52 week low of $7.97 and a 52 week high of $17.70. The company 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 released its quarterly earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.01. The business 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 company’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.41) EPS. On average, equities research analysts expect that Zymeworks Inc. will post -1.43 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC grew its stake 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 last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Zymeworks during the 3rd quarter worth approximately $47,000. Quest Partners LLC lifted its stake in Zymeworks by 8,049.6% in the 2nd quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock valued at $78,000 after buying an additional 9,096 shares in the last quarter. nVerses Capital LLC acquired a new stake in Zymeworks during the 3rd quarter valued at $79,000. Finally, MQS Management LLC purchased a new position in Zymeworks during the second quarter worth $92,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on ZYME. Citigroup upped their price target on Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Leerink Partners upgraded shares of 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 note on Thursday, November 7th. JPMorgan Chase & Co. upgraded shares of Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price target on the stock in a research note on Monday, December 16th. Wells Fargo & Company raised 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, HC Wainwright reiterated a “neutral” rating and set a $12.00 target price on shares of Zymeworks in a research report on Friday, November 22nd. 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’s stock. According to MarketBeat, Zymeworks presently has a consensus rating of “Moderate Buy” and a consensus target price 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.