Insider Buying: Zymeworks Inc. (NYSE:ZYME) Director Purchases 468,356 Shares of Stock

Zymeworks Inc. (NYSE:ZYME - Get Free Report) Director Ecor1 Capital, Llc bought 468,356 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average cost of $12.48 per share, with a total value of $5,845,082.88. Following the completion of the purchase, the director now directly owns 16,802,141 shares in the company, valued at $209,690,719.68. This represents a 2.87 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, March 11th, Ecor1 Capital, Llc bought 320,690 shares of Zymeworks stock. The shares were bought at an average cost of $11.49 per share, with a total value of $3,684,728.10.
• On Friday, January 17th, Ecor1 Capital, Llc acquired 19,748 shares of Zymeworks stock. The stock was acquired at an average price of $13.87 per share, for a total transaction of $273,904.76.
• On Wednesday, January 15th, Ecor1 Capital, Llc acquired 39,029 shares of Zymeworks stock. The stock was acquired at an average price of $14.01 per share, for a total transaction of $546,796.29.
• On Monday, January 13th, Ecor1 Capital, Llc acquired 74,125 shares of Zymeworks stock. The stock was acquired at an average price of $13.39 per share, for a total transaction of $992,533.75.
• On Friday, January 10th, Ecor1 Capital, Llc acquired 204,098 shares of Zymeworks stock. The stock was acquired at an average price of $13.13 per share, for a total transaction of $2,679,806.74.
• On Wednesday, January 8th, Ecor1 Capital, Llc acquired 21,021 shares of Zymeworks stock. The stock was acquired at an average price of $14.07 per share, for a total transaction 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 price of $14.78 per share, for a total transaction of $2,333,466.40.
• On Monday, December 30th, Ecor1 Capital, Llc purchased 58,988 shares of Zymeworks stock. The shares were 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 purchased 11,958 shares of Zymeworks stock. The shares were purchased at an average price of $14.12 per share, for a total transaction of $168,846.96.
• On Thursday, December 26th, Ecor1 Capital, Llc purchased 16,692 shares of Zymeworks stock. The shares were purchased at an average price of $14.38 per share, for a total transaction of $240,030.96.

Zymeworks Trading Up 2.7 %

Shares of ZYME traded up $0.33 during mid-day trading on Monday, hitting $12.58. The company's stock had a trading volume of 667,109 shares, compared to its average volume of 477,654. The firm has a 50-day simple moving average of $13.86 and a 200 day simple moving average of $13.68. The firm has a market capitalization of $875.28 million, a P/E 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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Analysts Set New Price Targets

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

Institutional Trading of Zymeworks

Several hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of Zymeworks by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 132,798 shares of the company's stock valued at $1,667,000 after buying an additional 650 shares during the period. Nuveen Asset Management LLC lifted its holdings 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 valued at $3,031,000 after buying an additional 886 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Zymeworks by 6.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,605 shares of the company's stock valued at $214,000 after buying an additional 940 shares during the period. Sterling Capital Management LLC lifted its holdings in shares of Zymeworks by 781.5% in the 4th 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 lifted its holdings in shares of Zymeworks by 84.2% in the 3rd 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 period. 92.89% of the stock is owned by institutional investors and hedge funds.

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.