Zymeworks Inc. (NYSE:ZYME) Director Purchases $853,556.36 in Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc bought 58,988 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were purchased at an average price of $14.47 per share, with a total value 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. This trade represents a 0.40 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed 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 acquired at an average cost of $14.78 per share, with a total value of $2,333,466.40.
• On Tuesday, December 24th, Ecor1 Capital, Llc bought 11,958 shares of Zymeworks stock. The shares were acquired at an average cost of $14.12 per share, for a total transaction of $168,846.96.
• On Thursday, December 26th, Ecor1 Capital, Llc purchased 16,692 shares of Zymeworks stock. The stock was acquired at an average cost of $14.38 per share, with a total value of $240,030.96.

Zymeworks Stock Performance

Shares of ZYME opened at $15.01 on Friday. Zymeworks Inc. has a fifty-two week low of $7.97 and a fifty-two week high of $17.70. The firm’s 50-day simple moving average is $14.43 and its two-hundred day simple moving average is $12.25. The stock has a market cap of $1.03 billion, a PE ratio of -10.01 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 for the quarter, topping the consensus estimate of ($0.40) by $0.01. The company had revenue of $16.00 million for the quarter, compared to the consensus estimate of $17.90 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.41) EPS. Equities research analysts predict that Zymeworks Inc. will post -1.43 EPS for the current year.

Hedge Funds Weigh In On Zymeworks

Institutional investors and hedge funds have recently modified their holdings of the stock. Rubric Capital Management LP grew 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 valued at $33,336,000 after purchasing an additional 441,947 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Zymeworks by 0.8% in the third 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 in the last quarter. 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. State Street Corp increased its position in shares of Zymeworks by 6.1% during the third 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 lifted 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. 92.89% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ZYME has been the topic of a number of research analyst reports. Leerink Partners raised shares of Zymeworks from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $10.00 to $25.00 in a research report on Thursday, November 7th. Leerink Partnrs raised shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Stifel Nicolaus raised their price objective on shares of Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Wells Fargo & Company upped their target price on 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 restated a “neutral” rating and issued a $12.00 target price on shares of Zymeworks in a research note on Friday, November 22nd. Two investment 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. According to data from MarketBeat, Zymeworks presently has an average rating of “Moderate Buy” and a consensus price target of $19.17.

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.