Zymeworks (NYSE:ZYME) Shares Gap Up on Insider Buying Activity

Zymeworks Inc. (NYSE:ZYME - Get Free Report) gapped up prior to trading on Thursday after an insider bought additional shares in the company. The stock had previously closed at $14.04, but opened at $14.63. Zymeworks shares last traded at $14.05, with a volume of 32,031 shares traded.

Specifically, Director Ecor1 Capital, Llc purchased 39,029 shares of the stock in a transaction dated Wednesday, January 15th. The shares were purchased at an average price of $14.01 per share, with a total value of $546,796.29. Following the transaction, the director now owns 15,578,732 shares in the company, valued at $218,258,035.32. The trade was a 0.25 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ecor1 Capital, Llc acquired 74,125 shares of the business's stock in a transaction that occurred on Monday, January 13th. The shares were purchased at an average price of $13.39 per share, with a total value of $992,533.75. Following the completion of the transaction, the director now owns 15,485,203 shares of the company's stock, valued at $207,346,868.17. The trade was a 0.48 % increase in their position. The disclosure for this purchase can be found here. In other news, Director Ecor1 Capital, Llc bought 204,098 shares of the firm's stock in a transaction on Friday, January 10th. The shares were bought at an average cost of $13.13 per share, for a total transaction of $2,679,806.74. Following the acquisition, the director now directly owns 15,411,078 shares of the company's stock, valued at $202,347,454.14. This trade represents a 1.34 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Wells Fargo & Company upped their price objective on Zymeworks from $12.00 to $14.00 and gave the company an "equal weight" rating in a report on Thursday, December 19th. Leerink Partnrs raised shares of Zymeworks from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 7th. Leerink Partners raised shares of Zymeworks from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $10.00 to $25.00 in a research note on Thursday, November 7th. HC Wainwright reaffirmed a "neutral" rating and set a $12.00 price objective on shares of Zymeworks in a research report on Friday, November 22nd. Finally, Stifel Nicolaus boosted their target price on Zymeworks from $21.00 to $28.00 and gave the company a "buy" rating in a research report on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $19.17.

Zymeworks Price Performance

The firm has a market cap of $963.63 million, a PE ratio of -9.33 and a beta of 1.10. The company's 50 day moving average price is $14.42 and its 200 day moving average price is $12.57.

Zymeworks (NYSE:ZYME - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.39) 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 company had revenue of $16.00 million during the quarter, compared to analysts' expectations of $17.90 million. During the same quarter last year, the company posted ($0.41) EPS. The firm's revenue was down 3.1% compared to the same quarter last year. Sell-side analysts expect that Zymeworks Inc. will post -1.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC boosted its stake 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. DekaBank Deutsche Girozentrale acquired a new stake in Zymeworks in the third quarter valued at approximately $47,000. Quest Partners LLC grew its holdings in Zymeworks by 8,049.6% during the 2nd quarter. Quest Partners LLC now owns 9,209 shares of the company's stock worth $78,000 after acquiring an additional 9,096 shares in the last quarter. nVerses Capital LLC acquired a new position in Zymeworks during the 3rd quarter worth approximately $79,000. Finally, MQS Management LLC purchased a new stake in shares of Zymeworks in the 2nd quarter valued at approximately $92,000. 92.89% of the stock is owned by institutional investors and hedge funds.

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.