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

Zymeworks Inc. (NYSE:ZYME - Get Free Report) Director Ecor1 Capital, Llc bought 4,397 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The shares were acquired at an average cost of $11.75 per share, with a total value of $51,664.75. Following the purchase, the director now directly owns 17,259,548 shares of the company's stock, valued at $202,799,689. This trade represents a 0.03 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

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 bought at an average cost of $11.85 per share, with a total value of $881,166.00.
• On Wednesday, March 26th, Ecor1 Capital, Llc purchased 43,848 shares of Zymeworks stock. The stock was bought at an average price of $12.24 per share, with a total value 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 price of $13.08 per share, for a total transaction of $296,772.12.
• On Friday, March 21st, Ecor1 Capital, Llc acquired 31,033 shares of Zymeworks stock. The shares were bought at an average cost of $12.78 per share, for a total transaction of $396,601.74.
• On Wednesday, March 19th, Ecor1 Capital, Llc purchased 58,306 shares of Zymeworks stock. The stock was purchased at an average price of $12.64 per share, for a total transaction of $736,987.84.
• On Monday, March 17th, Ecor1 Capital, Llc bought 56,277 shares of Zymeworks stock. The shares were purchased at an average cost of $12.23 per share, for a total transaction of $688,267.71.
• 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, with a total value of $5,845,082.88.
• On Tuesday, March 11th, Ecor1 Capital, Llc acquired 320,690 shares of Zymeworks stock. The stock was acquired at an average cost of $11.49 per share, for a total transaction of $3,684,728.10.
• On Friday, January 17th, Ecor1 Capital, Llc purchased 19,748 shares of Zymeworks stock. The stock was acquired at an average cost of $13.87 per share, for a total transaction of $273,904.76.
• On Wednesday, January 15th, Ecor1 Capital, Llc bought 39,029 shares of Zymeworks stock. The stock was bought at an average price of $14.01 per share, for a total transaction of $546,796.29.

Zymeworks Trading Down 6.8 %

Shares of ZYME stock traded down $0.80 during trading hours on Friday, hitting $10.95. 1,241,592 shares of the company were exchanged, compared to its average volume of 603,010. Zymeworks Inc. has a 52-week low of $7.97 and a 52-week high of $17.70. The firm has a fifty day simple moving average of $13.31 and a 200 day simple moving average of $13.69. The stock has a market capitalization of $761.87 million, a price-to-earnings ratio of -7.30 and a beta of 1.18.

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Institutional Trading of Zymeworks

A number of large investors have recently bought and sold shares of ZYME. Blackstone Inc. grew its stake in shares of Zymeworks by 2,171.4% during the 4th quarter. Blackstone Inc. now owns 569,715 shares of the company's stock worth $8,341,000 after acquiring an additional 544,633 shares during the period. Walleye Capital LLC purchased a new position in shares of Zymeworks in the fourth quarter worth about $6,629,000. Schroder Investment Management Group purchased a new position in shares of Zymeworks in the fourth quarter worth about $4,892,000. Assenagon Asset Management S.A. raised its position in shares of Zymeworks by 93.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 642,251 shares of the company's stock valued at $9,403,000 after purchasing an additional 311,107 shares during the period. Finally, Point72 Asset Management L.P. boosted its holdings in Zymeworks by 565.8% in the 4th quarter. Point72 Asset Management L.P. now owns 330,127 shares of the company's stock worth $4,833,000 after buying an additional 280,544 shares during the period. 92.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ZYME has been the topic of several recent analyst reports. Wells Fargo & Company raised their price objective on Zymeworks from $12.00 to $14.00 and gave the company an "equal weight" rating in a research note on Thursday, December 19th. Lifesci Capital initiated coverage on shares of Zymeworks in a research note on Tuesday, March 11th. They issued an "outperform" rating and a $30.00 price objective for the company. Citigroup boosted their target price on Zymeworks from $18.00 to $19.00 and gave the stock a "buy" rating in a research note on Friday, March 7th. HC Wainwright upped 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, JPMorgan Chase & Co. upgraded Zymeworks from a "neutral" rating to an "overweight" rating and set a $18.00 price target on the stock in a report on Monday, December 16th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Zymeworks presently has an average rating of "Moderate Buy" and a consensus target price of $21.00.

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.