Ecor1 Capital, Llc Acquires 21,021 Shares of Zymeworks Inc. (NYSE:ZYME) Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc purchased 21,021 shares of the stock in a transaction on Wednesday, January 8th. The shares were bought at an average cost of $14.07 per share, for a total transaction of $295,765.47. Following the transaction, the director now directly owns 15,206,980 shares in the company, valued at approximately $213,962,208.60. The trade was a 0.14 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, January 10th, Ecor1 Capital, Llc bought 204,098 shares of Zymeworks stock. The stock was purchased at an average cost of $13.13 per share, with a total value of $2,679,806.74.
• 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, with a total value of $2,333,466.40.
• On Monday, December 30th, Ecor1 Capital, Llc bought 58,988 shares of Zymeworks stock. The stock was purchased at an average cost 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 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 acquired 16,692 shares of Zymeworks stock. The stock was acquired at an average cost of $14.38 per share, with a total value of $240,030.96.

Zymeworks Stock Performance

Shares of Zymeworks stock traded down $0.91 during trading on Friday, reaching $13.22. 798,973 shares of the company’s stock were exchanged, compared to its average volume of 594,729. Zymeworks Inc. has a 1-year low of $7.97 and a 1-year high of $17.70. The company has a market cap of $910.57 million, a P/E ratio of -8.81 and a beta of 1.10. The firm’s 50-day moving average price is $14.48 and its 200 day moving average price is $12.39.

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

Hedge Funds Weigh In On Zymeworks

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Rubric Capital Management LP increased its stake in shares of Zymeworks by 12.7% in the second quarter. Rubric Capital Management LP now owns 3,917,331 shares of the company’s stock valued at $33,336,000 after buying an additional 441,947 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Zymeworks by 0.8% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,945,491 shares of the company’s stock worth $24,416,000 after purchasing an additional 14,604 shares during the last quarter. Perceptive Advisors LLC lifted its holdings in Zymeworks by 55.2% during the 2nd quarter. Perceptive Advisors LLC now owns 1,667,711 shares of the company’s stock worth $14,192,000 after buying an additional 592,904 shares during the period. State Street Corp grew its position 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 valued at $14,706,000 after buying an additional 67,401 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Zymeworks by 127.5% in the second quarter. Dimensional Fund Advisors LP now owns 715,632 shares of the company’s stock valued at $6,090,000 after buying an additional 401,068 shares during the period. Institutional investors and hedge funds own 92.89% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ZYME. Leerink Partnrs raised Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Wells Fargo & Company upped their target price on Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. Leerink Partners upgraded shares of Zymeworks from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $10.00 to $25.00 in a research note on Thursday, November 7th. 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 report on Monday, December 16th. Finally, HC Wainwright restated a “neutral” rating and issued a $12.00 price target on shares of Zymeworks in a research report on Friday, November 22nd. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.