Insider Buying: Zymeworks Inc. (NYSE:ZYME) Director Acquires 74,360 Shares of Stock

Zymeworks Inc. (NYSE:ZYME - Get Free Report) Director Ecor1 Capital, Llc acquired 74,360 shares of Zymeworks stock in a transaction that occurred on Wednesday, April 2nd. The stock was acquired at an average price of $11.85 per share, with a total value of $881,166.00. Following the completion of the purchase, the director now directly owns 17,382,566 shares in the company, valued at $205,983,407.10. This represents a 0.43 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Monday, March 31st, Ecor1 Capital, Llc purchased 4,397 shares of Zymeworks stock. The stock was bought at an average cost of $11.75 per share, with a total value of $51,664.75.
• On Wednesday, March 26th, Ecor1 Capital, Llc purchased 43,848 shares of Zymeworks stock. The stock was purchased at an average cost of $12.24 per share, for a total transaction of $536,699.52.
• On Monday, March 24th, Ecor1 Capital, Llc bought 22,689 shares of Zymeworks stock. The shares were purchased at an average cost of $13.08 per share, for a total transaction of $296,772.12.
• On Friday, March 21st, Ecor1 Capital, Llc purchased 31,033 shares of Zymeworks stock. The shares were purchased at an average price of $12.78 per share, with a total value of $396,601.74.
• On Wednesday, March 19th, Ecor1 Capital, Llc acquired 58,306 shares of Zymeworks stock. The stock was acquired at an average price 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 shares were acquired 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 shares were bought at an average price 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 shares were purchased 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 purchased at an average price of $13.87 per share, with a total value of $273,904.76.
• On Wednesday, January 15th, Ecor1 Capital, Llc acquired 39,029 shares of Zymeworks stock. The shares were purchased at an average cost of $14.01 per share, for a total transaction of $546,796.29.

Zymeworks Stock Down 6.8 %

Shares of NYSE:ZYME traded down $0.80 during midday trading on Friday, hitting $10.95. 1,241,592 shares of the stock traded hands, compared to its average volume of 603,010. The stock has a market capitalization of $761.87 million, a PE ratio of -7.30 and a beta of 1.18. Zymeworks Inc. has a one year low of $7.97 and a one year high of $17.70. The business's 50 day moving average is $13.31 and its two-hundred day moving average is $13.69.

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Institutional Investors Weigh In On Zymeworks

Several institutional investors and hedge funds have recently bought and sold shares of ZYME. Charles Schwab Investment Management Inc. lifted its stake in Zymeworks by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 132,798 shares of the company's stock worth $1,667,000 after acquiring an additional 650 shares during the period. Nuveen Asset Management LLC lifted its position in shares of Zymeworks by 0.4% in the 4th quarter. Nuveen Asset Management LLC now owns 207,023 shares of the company's stock worth $3,031,000 after purchasing an additional 886 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in shares of Zymeworks by 6.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,605 shares of the company's stock valued at $214,000 after purchasing an additional 940 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of Zymeworks by 781.5% during the fourth quarter. Sterling Capital Management LLC now owns 1,719 shares of the company's stock valued at $25,000 after buying an additional 1,524 shares during the period. Finally, FMR LLC raised its stake in Zymeworks by 84.2% in the third quarter. FMR LLC now owns 3,336 shares of the company's stock worth $42,000 after buying an additional 1,525 shares in the last quarter. Hedge funds and other institutional investors own 92.89% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ZYME. Citigroup increased their price target on shares of Zymeworks from $18.00 to $19.00 and gave the company a "buy" rating in a research report on Friday, March 7th. JPMorgan Chase & Co. raised shares of 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. Lifesci Capital assumed coverage on shares of Zymeworks in a research note on Tuesday, March 11th. They issued an "outperform" rating and a $30.00 price target for the company. HC Wainwright upped their price target on shares of Zymeworks from $12.00 to $13.00 and gave the company a "neutral" rating in a research report on Monday, March 10th. Finally, Wells Fargo & Company lifted their price objective on Zymeworks from $12.00 to $14.00 and gave the stock an "equal weight" rating in a report on Thursday, December 19th. Two equities 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 stock. Based on data from MarketBeat, Zymeworks presently has a consensus rating of "Moderate Buy" and an average price target of $21.00.

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.