Ecor1 Capital, Llc Purchases 16,692 Shares of Zymeworks Inc. (NYSE:ZYME) Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc acquired 16,692 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The stock was purchased at an average price of $14.38 per share, with a total value of $240,030.96. Following the completion of the acquisition, the director now directly owns 14,720,931 shares of the company’s stock, valued at $211,686,987.78. This represents a 0.11 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, December 24th, Ecor1 Capital, Llc purchased 11,958 shares of Zymeworks stock. The stock was acquired at an average price of $14.12 per share, with a total value of $168,846.96.

Zymeworks Price Performance

Zymeworks stock opened at $14.50 on Friday. Zymeworks Inc. has a 1-year low of $7.97 and a 1-year high of $17.70. The business has a fifty day moving average price of $14.27 and a 200-day moving average price of $12.03. The stock has a market capitalization of $998.73 million, a price-to-earnings ratio of -9.67 and a beta of 1.12.

Zymeworks (NYSE:ZYME) last issued 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. 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 during the quarter, compared to the consensus estimate of $17.90 million. During the same quarter last year, the company earned ($0.41) earnings per share. The company’s quarterly revenue was down 3.1% on a year-over-year basis. On average, equities research analysts anticipate that Zymeworks Inc. will post -1.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Perceptive Advisors LLC grew its holdings in shares of Zymeworks by 55.2% during the second quarter. Perceptive Advisors LLC now owns 1,667,711 shares of the company’s stock valued at $14,192,000 after buying an additional 592,904 shares during the last quarter. Rubric Capital Management LP lifted its position in Zymeworks by 12.7% during the 2nd quarter. Rubric Capital Management LP now owns 3,917,331 shares of the company’s stock worth $33,336,000 after acquiring an additional 441,947 shares during the period. Dimensional Fund Advisors LP grew its stake in Zymeworks by 127.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 715,632 shares of the company’s stock valued at $6,090,000 after purchasing an additional 401,068 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Zymeworks in the third quarter valued at about $4,156,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Zymeworks in the second quarter worth about $1,683,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ZYME. HC Wainwright reiterated a “neutral” rating and set a $12.00 price objective on shares of Zymeworks in a research note on Friday, November 22nd. Leerink Partners upgraded Zymeworks from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $10.00 to $25.00 in a report on Thursday, November 7th. Leerink Partnrs raised Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Citigroup raised their price objective on Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company boosted 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. Two 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 company’s stock. According to MarketBeat, Zymeworks has a consensus rating of “Moderate Buy” and an average price target 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.