Ecor1 Capital, Llc Buys 39,029 Shares of Zymeworks Inc. (NYSE:ZYME) Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc purchased 39,029 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was bought at an average price of $14.01 per share, for a total transaction of $546,796.29. Following the completion of the acquisition, the director now directly owns 15,578,732 shares in the company, valued at approximately $218,258,035.32. This trade represents a 0.25 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, January 13th, Ecor1 Capital, Llc bought 74,125 shares of Zymeworks stock. The stock was bought at an average price of $13.39 per share, for a total transaction of $992,533.75.
• On Friday, January 10th, Ecor1 Capital, Llc bought 204,098 shares of Zymeworks stock. The stock was purchased at an average price of $13.13 per share, with a total value of $2,679,806.74.
• On Wednesday, January 8th, Ecor1 Capital, Llc acquired 21,021 shares of Zymeworks stock. The stock was purchased at an average cost of $14.07 per share, for a total transaction of $295,765.47.
• On Thursday, January 2nd, Ecor1 Capital, Llc bought 157,880 shares of Zymeworks stock. The shares were purchased 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 purchased at an average cost of $14.47 per share, for a total transaction of $853,556.36.
• On Tuesday, December 24th, Ecor1 Capital, Llc acquired 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 bought 16,692 shares of Zymeworks stock. The shares were acquired at an average price of $14.38 per share, for a total transaction of $240,030.96.

Zymeworks Price Performance

NYSE:ZYME opened at $13.99 on Friday. The company’s fifty day moving average price is $14.36 and its 200-day moving average price is $12.58. Zymeworks Inc. has a 1-year low of $7.97 and a 1-year high of $17.70. The firm has a market capitalization of $963.63 million, a P/E ratio of -9.33 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, topping the consensus estimate of ($0.40) by $0.01. The company had revenue of $16.00 million for the quarter, compared to the consensus estimate of $17.90 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.41) EPS. Equities analysts anticipate that Zymeworks Inc. will post -1.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ZYME. FMR LLC grew its stake in shares of Zymeworks by 84.2% during the 3rd quarter. FMR LLC now owns 3,336 shares of the company’s stock worth $42,000 after purchasing an additional 1,525 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in Zymeworks during the third quarter worth $47,000. Quest Partners LLC grew its position in Zymeworks by 8,049.6% during the second 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 during the period. nVerses Capital LLC purchased a new position in Zymeworks in the third quarter valued at $79,000. Finally, MQS Management LLC acquired a new position in shares of Zymeworks in the second quarter worth about $92,000. 92.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Citigroup raised their price target on Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, November 4th. HC Wainwright reiterated a “neutral” rating and issued a $12.00 target price on shares of Zymeworks in a research note on Friday, November 22nd. 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 note on Monday, October 28th. Leerink Partners upgraded shares of Zymeworks from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $10.00 to $25.00 in a research note on Thursday, November 7th. Finally, Leerink Partnrs raised Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently 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.