Insider Buying: Zymeworks Inc. (NYSE:ZYME) Director Buys 204,098 Shares of Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc bought 204,098 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 15,411,078 shares in the company, valued at $202,347,454.14. This trade represents a 1.34 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Wednesday, January 8th, Ecor1 Capital, Llc acquired 21,021 shares of Zymeworks stock. The shares were acquired 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 bought 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 purchased 58,988 shares of Zymeworks stock. The stock was bought at an average price of $14.47 per share, with a total value of $853,556.36.
• 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, 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 bought at an average price of $14.38 per share, for a total transaction of $240,030.96.

Zymeworks Stock Down 6.4 %

ZYME opened at $13.22 on Friday. The business’s fifty day simple moving average is $14.48 and its 200 day simple moving average is $12.39. 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 $910.57 million, a P/E ratio of -8.81 and a beta of 1.10.

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

Analysts Set New Price Targets

Several brokerages have recently commented on ZYME. Leerink Partnrs raised Zymeworks from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Wells Fargo & Company upped their target price on Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. 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 research note on Monday, December 16th. Leerink Partners upgraded shares of Zymeworks from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $10.00 to $25.00 in a research report on Thursday, November 7th. Finally, Citigroup raised their target price on shares of Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a report on Monday, November 4th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Zymeworks currently has an average rating of “Moderate Buy” and an average target price of $19.17.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. FMR LLC boosted its holdings in shares of Zymeworks by 84.2% during the third 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 last quarter. DekaBank Deutsche Girozentrale purchased a new position in Zymeworks during the third quarter worth about $47,000. nVerses Capital LLC acquired a new stake in Zymeworks in the 3rd quarter worth about $79,000. Quest Partners LLC grew its holdings 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 during the period. Finally, MQS Management LLC acquired a new position in shares of Zymeworks during the 2nd quarter valued at about $92,000. 92.89% of the stock is currently owned by institutional investors and hedge funds.

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.