Insider Buying: Zymeworks Inc. (NYSE:ZYME) Director Acquires 4,397 Shares of Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc acquired 4,397 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The stock was purchased at an average price of $11.75 per share, with a total value of $51,664.75. Following the completion of the acquisition, the director now owns 17,259,548 shares in the company, valued at $202,799,689. The trade was a 0.03 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Wednesday, April 2nd, Ecor1 Capital, Llc acquired 74,360 shares of Zymeworks stock. The shares were acquired at an average cost of $11.85 per share, for a total transaction of $881,166.00.
• On Wednesday, March 26th, Ecor1 Capital, Llc purchased 43,848 shares of Zymeworks stock. The shares were bought at an average cost of $12.24 per share, for a total transaction of $536,699.52.
• On Monday, March 24th, Ecor1 Capital, Llc acquired 22,689 shares of Zymeworks stock. The shares were bought at an average cost of $13.08 per share, with a total value of $296,772.12.
• On Friday, March 21st, Ecor1 Capital, Llc bought 31,033 shares of Zymeworks stock. The stock was bought at an average cost of $12.78 per share, with a total value of $396,601.74.
• On Wednesday, March 19th, Ecor1 Capital, Llc purchased 58,306 shares of Zymeworks stock. The shares were purchased at an average cost of $12.64 per share, for a total transaction of $736,987.84.
• On Monday, March 17th, Ecor1 Capital, Llc acquired 56,277 shares of Zymeworks stock. The stock was purchased at an average cost of $12.23 per share, with a total value of $688,267.71.
• On Thursday, March 13th, Ecor1 Capital, Llc acquired 468,356 shares of Zymeworks stock. The stock was acquired at an average cost of $12.48 per share, for a total transaction of $5,845,082.88.
• On Tuesday, March 11th, Ecor1 Capital, Llc purchased 320,690 shares of Zymeworks stock. The stock was acquired at an average price of $11.49 per share, for a total transaction of $3,684,728.10.
• On Friday, January 17th, Ecor1 Capital, Llc acquired 19,748 shares of Zymeworks stock. The stock was bought at an average price 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 shares were bought at an average cost of $14.01 per share, with a total value of $546,796.29.

Zymeworks Stock Up 2.6 %

NYSE ZYME traded up $0.30 during trading hours on Wednesday, hitting $11.92. 523,406 shares of the company were exchanged, compared to its average volume of 597,500. The stock has a market cap of $829.36 million, a PE ratio of -7.95 and a beta of 1.13. Zymeworks Inc. has a 52 week low of $7.97 and a 52 week high of $17.70. The stock has a 50-day moving average price of $13.50 and a 200 day moving average price of $13.73.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ZYME shares. Citigroup raised their target price on shares of Zymeworks from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. JPMorgan Chase & Co. upgraded shares of Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price objective on the stock in a research report on Monday, December 16th. Wells Fargo & Company lifted their price target on shares of Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. Lifesci Capital initiated coverage on Zymeworks in a report on Tuesday, March 11th. They issued an “outperform” rating and a $30.00 target price on the stock. Finally, HC Wainwright raised their price target on Zymeworks from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Monday, March 10th. 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. According to data from MarketBeat, Zymeworks currently has an average rating of “Moderate Buy” and an average target price of $21.00.

Institutional Trading of Zymeworks

A number of institutional investors have recently bought and sold shares of ZYME. Intech Investment Management LLC bought a new position in Zymeworks during the 3rd quarter valued at about $266,000. Charles Schwab Investment Management Inc. lifted its position in shares of 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 purchasing an additional 650 shares during the last quarter. FMR LLC grew 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 purchasing an additional 1,525 shares during the last quarter. Stifel Financial Corp increased its stake in Zymeworks by 2.1% in the 3rd quarter. Stifel Financial Corp now owns 73,654 shares of the company’s stock worth $924,000 after buying an additional 1,540 shares during the period. Finally, State Street Corp lifted its holdings in Zymeworks by 6.1% during the 3rd quarter. State Street Corp now owns 1,171,777 shares of the company’s stock valued at $14,706,000 after buying an additional 67,401 shares in the last quarter. 92.89% of the stock is currently 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.