Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc Buys 58,988 Shares

Zymeworks Inc. (NYSE:ZYME - Get Free Report) Director Ecor1 Capital, Llc bought 58,988 shares of the company's stock in a transaction dated Monday, December 30th. The stock was purchased at an average price of $14.47 per share, with a total value of $853,556.36. Following the completion of the transaction, the director now directly owns 14,881,578 shares in the company, valued at approximately $215,336,433.66. This represents a 0.40 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Thursday, January 2nd, Ecor1 Capital, Llc acquired 157,880 shares of Zymeworks stock. The stock was purchased at an average cost of $14.78 per share, for a total transaction of $2,333,466.40.
• On Tuesday, December 24th, Ecor1 Capital, Llc bought 11,958 shares of Zymeworks stock. The shares were acquired at an average price of $14.12 per share, with a total value of $168,846.96.
• On Thursday, December 26th, Ecor1 Capital, Llc purchased 16,692 shares of Zymeworks stock. The stock was acquired at an average price of $14.38 per share, for a total transaction of $240,030.96.

Zymeworks Price Performance

NYSE ZYME traded up $0.14 during trading hours on Thursday, reaching $14.78. The company's stock had a trading volume of 496,625 shares, compared to its average volume of 608,278. Zymeworks Inc. has a 52 week low of $7.97 and a 52 week 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. The firm has a fifty day simple moving average of $14.39 and a 200-day simple moving average of $12.18.

Zymeworks (NYSE:ZYME - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $16.00 million during the quarter, compared to the consensus estimate of $17.90 million. During the same quarter last year, the firm earned ($0.41) earnings per share. The company's revenue for the quarter was down 3.1% on a year-over-year basis. On average, research analysts expect that Zymeworks Inc. will post -1.43 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ZYME. Perceptive Advisors LLC increased its stake in shares of Zymeworks by 55.2% in the second quarter. Perceptive Advisors LLC now owns 1,667,711 shares of the company's stock valued at $14,192,000 after buying an additional 592,904 shares during the period. Rubric Capital Management LP increased its position in Zymeworks by 12.7% during the 2nd quarter. Rubric Capital Management LP now owns 3,917,331 shares of the company's stock valued at $33,336,000 after purchasing an additional 441,947 shares during the period. Dimensional Fund Advisors LP raised its holdings in 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 purchasing an additional 401,068 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Zymeworks in the 3rd quarter worth approximately $4,156,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Zymeworks in the 2nd quarter valued at $1,683,000. 92.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Leerink Partners raised Zymeworks from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $10.00 to $25.00 in a research note on Thursday, November 7th. JPMorgan Chase & Co. upgraded shares of Zymeworks from a "neutral" rating to an "overweight" rating and set a $18.00 price target on the stock in a research note on Monday, December 16th. Leerink Partnrs raised shares of Zymeworks from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 7th. Citigroup increased their price objective 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. Finally, Stifel Nicolaus boosted their target price on shares of Zymeworks from $21.00 to $28.00 and gave the stock a "buy" rating in a research note on Monday, October 28th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $19.17.

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.