Ecor1 Capital, Llc Buys 43,848 Shares of Zymeworks Inc. (NYSE:ZYME) Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc acquired 43,848 shares of the stock in a transaction dated Wednesday, March 26th. The shares were purchased at an average price of $12.24 per share, for a total transaction of $536,699.52. Following the completion of the purchase, the director now directly owns 17,255,151 shares in the company, valued at $211,203,048.24. The trade was a 0.25 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Monday, March 24th, Ecor1 Capital, Llc purchased 22,689 shares of Zymeworks stock. The shares were acquired at an average cost of $13.08 per share, for a total transaction of $296,772.12.
• On Friday, March 21st, Ecor1 Capital, Llc acquired 31,033 shares of Zymeworks stock. The stock was acquired at an average cost of $12.78 per share, with a total value of $396,601.74.
• On Wednesday, March 19th, Ecor1 Capital, Llc bought 58,306 shares of Zymeworks stock. The shares were acquired at an average price of $12.64 per share, with a total value of $736,987.84.
• On Monday, March 17th, Ecor1 Capital, Llc purchased 56,277 shares of Zymeworks stock. The stock was acquired at an average price of $12.23 per share, for a total transaction of $688,267.71.
• On Thursday, March 13th, Ecor1 Capital, Llc acquired 468,356 shares of Zymeworks stock. The shares were bought at an average cost of $12.48 per share, with a total value of $5,845,082.88.
• On Tuesday, March 11th, Ecor1 Capital, Llc acquired 320,690 shares of Zymeworks stock. The stock was bought at an average cost of $11.49 per share, for a total transaction of $3,684,728.10.
• On Friday, January 17th, Ecor1 Capital, Llc bought 19,748 shares of Zymeworks stock. The shares were bought at an average cost of $13.87 per share, with a total value of $273,904.76.
• On Wednesday, January 15th, Ecor1 Capital, Llc purchased 39,029 shares of Zymeworks stock. The stock was bought at an average cost of $14.01 per share, for a total transaction of $546,796.29.
• On Monday, January 13th, Ecor1 Capital, Llc bought 74,125 shares of Zymeworks stock. The stock was purchased at an average cost of $13.39 per share, for a total transaction of $992,533.75.
• On Friday, January 10th, Ecor1 Capital, Llc purchased 204,098 shares of Zymeworks stock. The shares were purchased at an average cost of $13.13 per share, with a total value of $2,679,806.74.

Zymeworks Stock Performance

Shares of NYSE ZYME traded up $0.16 during trading hours on Thursday, hitting $12.51. 317,200 shares of the stock were exchanged, compared to its average volume of 478,115. The company’s fifty day simple moving average is $13.66 and its two-hundred day simple moving average is $13.72. The company has a market cap of $870.41 million, a PE ratio of -8.34 and a beta of 1.13. Zymeworks Inc. has a 1-year low of $7.97 and a 1-year high of $17.70.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ZYME. Citigroup upped their price objective on Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a report on Friday, March 7th. Lifesci Capital started coverage on shares of Zymeworks in a research report on Tuesday, March 11th. They set an “outperform” rating and a $30.00 price target on the stock. JPMorgan Chase & Co. raised shares of Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price objective for the company in a report on Monday, December 16th. Wells Fargo & Company raised their target price on shares of Zymeworks from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. Finally, HC Wainwright boosted their price target on Zymeworks from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Monday, March 10th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Zymeworks presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Institutional Investors Weigh In On Zymeworks

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZYME. Intech Investment Management LLC acquired a new position in shares of Zymeworks during the 3rd quarter worth $266,000. Charles Schwab Investment Management Inc. raised its stake in Zymeworks by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 132,798 shares of the company’s stock worth $1,667,000 after acquiring an additional 650 shares in the last quarter. FMR LLC lifted its holdings in shares of Zymeworks by 84.2% in the third quarter. FMR LLC now owns 3,336 shares of the company’s stock worth $42,000 after acquiring an additional 1,525 shares during the last quarter. Vestal Point Capital LP boosted its stake in shares of Zymeworks by 39.8% in the 3rd quarter. Vestal Point Capital LP now owns 615,000 shares of the company’s stock valued at $7,718,000 after purchasing an additional 175,000 shares in the last quarter. Finally, Stifel Financial Corp grew its holdings in shares of Zymeworks by 2.1% during the 3rd quarter. Stifel Financial Corp now owns 73,654 shares of the company’s stock valued at $924,000 after purchasing an additional 1,540 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors.

Zymeworks Company Profile

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.