Insider Buying: Zymeworks Inc. (NYSE:ZYME) Director Purchases $240,030.96 in Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc purchased 16,692 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The stock was acquired at an average price of $14.38 per share, with a total value of $240,030.96. Following the completion of the purchase, the director now owns 14,720,931 shares in the company, valued at $211,686,987.78. This represents a 0.11 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, December 24th, Ecor1 Capital, Llc acquired 11,958 shares of Zymeworks stock. The stock was acquired at an average price of $14.12 per share, for a total transaction of $168,846.96.

Zymeworks Stock Performance

NYSE ZYME opened at $14.50 on Monday. Zymeworks Inc. has a one year low of $7.97 and a one year high of $17.70. The stock has a 50-day moving average of $14.27 and a 200 day moving average of $12.05. The company has a market capitalization of $998.73 million, a price-to-earnings ratio of -9.67 and a beta of 1.12.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.01. The firm had revenue of $16.00 million during the quarter, compared to analyst estimates of $17.90 million. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.41) earnings per share. On average, equities analysts predict that Zymeworks Inc. will post -1.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Citigroup boosted their price target on Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Wells Fargo & Company increased their target price on Zymeworks from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 19th. Stifel Nicolaus raised their price target on Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a report on Monday, October 28th. HC Wainwright reissued a “neutral” rating and set a $12.00 price objective on shares of Zymeworks in a research report on Friday, November 22nd. Finally, Leerink Partners raised shares of Zymeworks from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $10.00 to $25.00 in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $19.17.

Institutional Investors Weigh In On Zymeworks

A number of hedge funds have recently added to or reduced their stakes in ZYME. Point72 Asset Management L.P. bought a new stake in shares of Zymeworks in the second quarter worth $1,683,000. Rubric Capital Management LP grew its stake in shares of 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. Vestal Point Capital LP increased its position in shares of Zymeworks by 39.8% during the 3rd quarter. Vestal Point Capital LP now owns 615,000 shares of the company’s stock valued at $7,718,000 after purchasing an additional 175,000 shares during the last quarter. State Street Corp lifted its stake in shares of Zymeworks by 6.1% in the 3rd quarter. State Street Corp now owns 1,171,777 shares of the company’s stock worth $14,706,000 after purchasing an additional 67,401 shares during the period. Finally, Squarepoint Ops LLC boosted its holdings in shares of Zymeworks by 401.9% in the second quarter. Squarepoint Ops LLC now owns 73,324 shares of the company’s stock worth $624,000 after buying an additional 58,716 shares during the last quarter. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

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.