Ecor1 Capital, Llc Buys 157,880 Shares of Zymeworks Inc. (NYSE:ZYME) Stock

Zymeworks Inc. (NYSE:ZYME - Get Free Report) Director Ecor1 Capital, Llc bought 157,880 shares of the stock in a transaction dated Thursday, January 2nd. The stock was purchased at an average cost of $14.78 per share, with a total value of $2,333,466.40. Following the completion of the purchase, the director now directly owns 15,185,959 shares in the company, valued at approximately $224,448,474.02. This trade represents a 1.05 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Monday, December 30th, Ecor1 Capital, Llc purchased 58,988 shares of Zymeworks stock. The stock was purchased at an average price of $14.47 per share, for a total transaction of $853,556.36.
• On Tuesday, December 24th, Ecor1 Capital, Llc bought 11,958 shares of Zymeworks stock. The shares were bought at an average price of $14.12 per share, for a total transaction of $168,846.96.
• On Thursday, December 26th, Ecor1 Capital, Llc bought 16,692 shares of Zymeworks stock. The shares were purchased at an average price of $14.38 per share, with a total value of $240,030.96.

Zymeworks Stock Performance

ZYME traded up $0.14 during trading on Thursday, reaching $14.78. 496,625 shares of the stock were exchanged, compared to its average volume of 608,278. The stock's 50 day moving average price is $14.39 and its two-hundred day moving average price is $12.18. Zymeworks Inc. has a twelve month low of $7.97 and a twelve month high of $17.70. The stock has a market cap of $1.02 billion, a P/E ratio of -9.85 and a beta of 1.12.

Zymeworks (NYSE:ZYME - Get Free Report) last issued its earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $17.90 million. During the same period in the prior year, the firm earned ($0.41) EPS. Zymeworks's quarterly revenue was down 3.1% compared to the same quarter last year. Equities research analysts predict that Zymeworks Inc. will post -1.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ZYME has been the subject of a number of research reports. Leerink Partners upgraded Zymeworks from a "market perform" rating to an "outperform" rating and increased their price objective for the stock 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. Wells Fargo & Company lifted their price objective 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. JPMorgan Chase & Co. upgraded shares of Zymeworks from a "neutral" rating to an "overweight" rating and set a $18.00 target price for the company in a report on Monday, December 16th. Finally, Citigroup lifted their price target on shares of Zymeworks from $16.00 to $18.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Two equities research 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's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $19.17.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Perceptive Advisors LLC lifted its holdings in Zymeworks by 55.2% during the 2nd quarter. Perceptive Advisors LLC now owns 1,667,711 shares of the company's stock valued at $14,192,000 after purchasing an additional 592,904 shares during the last quarter. Rubric Capital Management LP lifted its stake 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 buying an additional 441,947 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Zymeworks by 127.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 715,632 shares of the company's stock worth $6,090,000 after buying an additional 401,068 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Zymeworks during the 3rd quarter worth about $4,156,000. Finally, Point72 Asset Management L.P. acquired a new position in Zymeworks in the 2nd quarter valued at about $1,683,000. 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.