Insider Buying: Zymeworks Inc. (NYSE:ZYME) Director Purchases 320,690 Shares of Stock

Zymeworks Inc. (NYSE:ZYME - Get Free Report) Director Ecor1 Capital, Llc acquired 320,690 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $11.49 per share, with a total value of $3,684,728.10. Following the completion of the purchase, the director now directly owns 16,040,851 shares in the company, valued at $184,309,377.99. This represents a 2.04 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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 bought at an average cost of $12.48 per share, with a total value of $5,845,082.88.
• On Friday, January 17th, Ecor1 Capital, Llc purchased 19,748 shares of Zymeworks stock. The shares were bought at an average cost 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.
• On Monday, January 13th, Ecor1 Capital, Llc purchased 74,125 shares of Zymeworks stock. The shares were bought at an average cost of $13.39 per share, with a total value of $992,533.75.
• On Friday, January 10th, Ecor1 Capital, Llc purchased 204,098 shares of Zymeworks stock. The shares were bought 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 purchased 21,021 shares of Zymeworks stock. The shares were bought 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 stock was acquired 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 stock was acquired 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 stock was acquired 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 stock was acquired at an average cost of $14.38 per share, with a total value of $240,030.96.

Zymeworks Trading Up 2.7 %

Shares of ZYME traded up $0.33 during midday trading on Monday, reaching $12.58. 667,109 shares of the company were exchanged, compared to its average volume of 477,654. The stock has a 50-day moving average price of $13.86 and a 200-day moving average price of $13.68. The company has a market cap of $875.28 million, a price-to-earnings ratio of -8.39 and a beta of 1.13. Zymeworks Inc. has a 1-year low of $7.97 and a 1-year high of $17.70.

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Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ZYME shares. Lifesci Capital assumed coverage on Zymeworks in a research report on Tuesday, March 11th. They issued an "outperform" rating and a $30.00 price objective for the company. JPMorgan Chase & Co. upgraded Zymeworks from a "neutral" rating to an "overweight" rating and set a $18.00 target price on the stock in a report on Monday, December 16th. Citigroup lifted their target price on Zymeworks from $18.00 to $19.00 and gave the company a "buy" rating in a report on Friday, March 7th. HC Wainwright lifted their target price on Zymeworks from $12.00 to $13.00 and gave the company a "neutral" rating in a report on Monday, March 10th. Finally, Wells Fargo & Company lifted their target price on Zymeworks from $12.00 to $14.00 and gave the company an "equal weight" rating in a report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $21.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sterling Capital Management LLC lifted its stake in shares of Zymeworks by 781.5% in the fourth quarter. Sterling Capital Management LLC now owns 1,719 shares of the company's stock worth $25,000 after acquiring an additional 1,524 shares in the last quarter. AlphaQuest LLC increased its holdings in Zymeworks by 480.2% in the fourth quarter. AlphaQuest LLC now owns 2,808 shares of the company's stock valued at $41,000 after buying an additional 2,324 shares during the last quarter. FMR LLC increased its holdings in Zymeworks by 84.2% in the third quarter. FMR LLC now owns 3,336 shares of the company's stock valued at $42,000 after buying an additional 1,525 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in Zymeworks in the fourth quarter valued at about $108,000. Finally, Tower Research Capital LLC TRC increased its holdings in Zymeworks by 343.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,704 shares of the company's stock valued at $142,000 after buying an additional 7,518 shares during the last quarter. Institutional investors and hedge funds own 92.89% of the company's stock.

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.