Ecor1 Capital, Llc Buys 320,690 Shares of Zymeworks Inc. (NYSE:ZYME) Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc purchased 320,690 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average price of $11.49 per share, for a total transaction of $3,684,728.10. Following the purchase, the director now owns 16,040,851 shares in the company, valued at $184,309,377.99. The trade was a 2.04 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, March 13th, Ecor1 Capital, Llc purchased 468,356 shares of Zymeworks stock. The shares were acquired at an average price of $12.48 per share, for a total transaction of $5,845,082.88.
• On Friday, January 17th, Ecor1 Capital, Llc purchased 19,748 shares of Zymeworks stock. The shares were acquired at an average price of $13.87 per share, for a total transaction of $273,904.76.
• On Wednesday, January 15th, Ecor1 Capital, Llc purchased 39,029 shares of Zymeworks stock. The shares were acquired at an average price of $14.01 per share, for a total transaction of $546,796.29.
• On Monday, January 13th, Ecor1 Capital, Llc acquired 74,125 shares of Zymeworks stock. The shares were purchased at an average cost of $13.39 per share, with a total value of $992,533.75.
• On Friday, January 10th, Ecor1 Capital, Llc acquired 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.
• On Wednesday, January 8th, Ecor1 Capital, Llc acquired 21,021 shares of Zymeworks stock. The shares were purchased at an average cost of $14.07 per share, with a total value of $295,765.47.
• On Thursday, January 2nd, Ecor1 Capital, Llc acquired 157,880 shares of Zymeworks stock. The shares were purchased at an average cost of $14.78 per share, with a total value of $2,333,466.40.
• On Monday, December 30th, Ecor1 Capital, Llc acquired 58,988 shares of Zymeworks stock. The shares were purchased at an average cost 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 shares were purchased at an average cost of $14.12 per share, with a total value of $168,846.96.
• On Thursday, December 26th, Ecor1 Capital, Llc acquired 16,692 shares of Zymeworks stock. The shares were purchased at an average cost of $14.38 per share, with a total value of $240,030.96.

Zymeworks Trading Down 2.4 %

Shares of NYSE ZYME opened at $12.25 on Friday. Zymeworks Inc. has a 1-year low of $7.97 and a 1-year high of $17.70. The company has a market cap of $852.32 million, a PE ratio of -8.17 and a beta of 1.13. The company has a 50-day moving average of $13.92 and a two-hundred day moving average of $13.64.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Zymeworks

A number of institutional investors have recently modified their holdings of ZYME. Charles Schwab Investment Management Inc. boosted its stake in shares of Zymeworks by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 132,798 shares of the company’s stock valued at $1,667,000 after purchasing an additional 650 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Zymeworks by 0.4% in the 4th quarter. Nuveen Asset Management LLC now owns 207,023 shares of the company’s stock valued at $3,031,000 after purchasing an additional 886 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Zymeworks by 6.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,605 shares of the company’s stock valued at $214,000 after purchasing an additional 940 shares during the last quarter. Sterling Capital Management LLC boosted its stake in shares of Zymeworks by 781.5% in the 4th quarter. Sterling Capital Management LLC now owns 1,719 shares of the company’s stock valued at $25,000 after purchasing an additional 1,524 shares during the last quarter. Finally, FMR LLC boosted its stake in shares of Zymeworks by 84.2% in the 3rd quarter. FMR LLC now owns 3,336 shares of the company’s stock valued at $42,000 after purchasing an additional 1,525 shares during the last quarter. 92.89% of the stock is owned by institutional investors.

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.