Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc Purchases 11,958 Shares

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc purchased 11,958 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were acquired at an average cost of $14.12 per share, with a total value of $168,846.96. Following the completion of the transaction, the director now owns 14,704,239 shares in the company, valued at $207,623,854.68. This trade represents a 0.08 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Thursday, December 26th, Ecor1 Capital, Llc acquired 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 Performance

ZYME stock opened at $14.50 on Friday. The stock’s 50 day simple moving average is $14.27 and its 200 day simple moving average is $12.03. Zymeworks Inc. has a 12-month low of $7.97 and a 12-month high of $17.70. The firm has a market cap of $998.73 million, a P/E ratio of -9.67 and a beta of 1.12.

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

Hedge Funds Weigh In On Zymeworks

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Rubric Capital Management LP raised its position in shares of 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 purchasing an additional 441,947 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew 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 buying an additional 14,604 shares during the last quarter. Perceptive Advisors LLC grew its stake in Zymeworks by 55.2% during the 2nd quarter. Perceptive Advisors LLC now owns 1,667,711 shares of the company’s stock worth $14,192,000 after buying an additional 592,904 shares during the last quarter. State Street Corp increased its position in Zymeworks by 6.1% in the third quarter. State Street Corp now owns 1,171,777 shares of the company’s stock worth $14,706,000 after buying an additional 67,401 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Zymeworks by 127.5% in the second quarter. Dimensional Fund Advisors LP now owns 715,632 shares of the company’s stock valued at $6,090,000 after buying an additional 401,068 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ZYME has been the topic of several analyst reports. Stifel Nicolaus raised their target price on Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a report on Monday, October 28th. 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 shares of Zymeworks from a “market perform” rating to an “outperform” rating and upped their target price for the company from $10.00 to $25.00 in a research note on Thursday, November 7th. Citigroup boosted their price objective on shares of Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. upgraded Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price target on the stock in a research note on Monday, December 16th. 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.