Ecor1 Capital, Llc Acquires 58,988 Shares of Zymeworks Inc. (NYSE:ZYME) Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc purchased 58,988 shares of the stock in a transaction on Monday, December 30th. The stock was acquired at an average cost of $14.47 per share, for a total transaction of $853,556.36. Following the completion of the acquisition, the director now owns 14,881,578 shares of the company’s stock, valued at $215,336,433.66. The trade was a 0.40 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, January 2nd, Ecor1 Capital, Llc purchased 157,880 shares of Zymeworks stock. The shares were bought at an average price of $14.78 per share, with a total value of $2,333,466.40.
• On Tuesday, December 24th, Ecor1 Capital, Llc acquired 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 bought 16,692 shares of Zymeworks stock. The shares were purchased at an average cost of $14.38 per share, with a total value of $240,030.96.

Zymeworks Stock Up 1.6 %

ZYME stock opened at $15.01 on Friday. Zymeworks Inc. has a 52-week low of $7.97 and a 52-week high of $17.70. The business has a fifty day moving average of $14.43 and a two-hundred day moving average of $12.23. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -10.01 and a beta of 1.12.

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

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Stifel Nicolaus boosted their price target on shares of Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Citigroup raised their price target on shares of Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Wells Fargo & Company upped their price objective on shares of Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. Leerink Partnrs upgraded Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Finally, Leerink Partners raised Zymeworks from a “market perform” rating to an “outperform” rating and increased their price target for the company from $10.00 to $25.00 in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $19.17.

Institutional Trading of Zymeworks

Several institutional investors have recently added to or reduced their stakes in the stock. Rubric Capital Management LP lifted its stake in Zymeworks by 12.7% during the second quarter. Rubric Capital Management LP now owns 3,917,331 shares of the company’s stock worth $33,336,000 after purchasing an additional 441,947 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Zymeworks by 0.8% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,945,491 shares of the company’s stock worth $24,416,000 after acquiring an additional 14,604 shares in the last quarter. Perceptive Advisors LLC boosted its holdings in Zymeworks by 55.2% during the 2nd quarter. Perceptive Advisors LLC now owns 1,667,711 shares of the company’s stock valued at $14,192,000 after acquiring an additional 592,904 shares during the period. State Street Corp grew its position in Zymeworks by 6.1% in the 3rd quarter. State Street Corp now owns 1,171,777 shares of the company’s stock valued at $14,706,000 after acquiring an additional 67,401 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Zymeworks by 127.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 715,632 shares of the company’s stock valued at $6,090,000 after acquiring an additional 401,068 shares in the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

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.