Ecor1 Capital, Llc Buys 204,098 Shares of Zymeworks Inc. (NYSE:ZYME) Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc bought 204,098 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were acquired at an average price of $13.13 per share, for a total transaction of $2,679,806.74. Following the completion of the transaction, the director now owns 15,411,078 shares in the company, valued at $202,347,454.14. This trade represents a 1.34 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Wednesday, January 8th, Ecor1 Capital, Llc purchased 21,021 shares of Zymeworks stock. The shares were acquired at an average cost of $14.07 per share, with a total value of $295,765.47.
• On Thursday, January 2nd, Ecor1 Capital, Llc acquired 157,880 shares of Zymeworks stock. The stock was 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 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 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 price of $14.38 per share, with a total value of $240,030.96.

Zymeworks Trading Down 6.4 %

ZYME opened at $13.22 on Friday. The company has a fifty day moving average price of $14.48 and a two-hundred day moving average price of $12.45. Zymeworks Inc. has a 1-year low of $7.97 and a 1-year 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 posted 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. 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 for the quarter, compared to the consensus estimate of $17.90 million. During the same period in the prior year, the business earned ($0.41) EPS. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, research analysts forecast that Zymeworks Inc. will post -1.43 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on ZYME shares. HC Wainwright reiterated a “neutral” rating and issued a $12.00 target price on shares of Zymeworks in a report on Friday, November 22nd. Citigroup upped their price objective 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. Leerink Partners raised shares of Zymeworks from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $10.00 to $25.00 in a research note on Thursday, November 7th. Stifel Nicolaus upped their price target on shares of Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. raised Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price objective for the company in a research report on Monday, December 16th. Two equities research 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.17.

Hedge Funds Weigh In On Zymeworks

A number of large investors have recently modified their holdings of ZYME. FMR LLC raised its holdings in Zymeworks by 84.2% during the third quarter. FMR LLC now owns 3,336 shares of the company’s stock worth $42,000 after buying an additional 1,525 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Zymeworks in the 3rd quarter worth about $47,000. Quest Partners LLC raised its holdings in shares of Zymeworks by 8,049.6% in the 2nd quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock worth $78,000 after acquiring an additional 9,096 shares during the last quarter. nVerses Capital LLC bought a new position in Zymeworks in the 3rd quarter valued at about $79,000. Finally, MQS Management LLC acquired a new position in Zymeworks during the 2nd quarter valued at about $92,000. 92.89% of the stock is currently owned by 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.