Ecor1 Capital, Llc Buys 58,306 Shares of Zymeworks Inc. (NYSE:ZYME) Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc acquired 58,306 shares of the stock in a transaction on Wednesday, March 19th. The stock was bought at an average price of $12.64 per share, with a total value of $736,987.84. Following the transaction, the director now directly owns 17,030,604 shares in the company, valued at approximately $215,266,834.56. This represents a 0.34 % increase in their position. The acquisition 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 Monday, March 17th, Ecor1 Capital, Llc purchased 56,277 shares of Zymeworks stock. The stock was bought 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 stock was purchased 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 bought 320,690 shares of Zymeworks stock. The shares were purchased at an average price 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 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 bought 39,029 shares of Zymeworks stock. The stock was acquired at an average cost of $14.01 per share, for a total transaction of $546,796.29.
• On Monday, January 13th, Ecor1 Capital, Llc purchased 74,125 shares of Zymeworks stock. The shares were acquired at an average cost of $13.39 per share, with a total value 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 cost of $13.13 per share, for a total transaction of $2,679,806.74.
• On Wednesday, January 8th, Ecor1 Capital, Llc bought 21,021 shares of Zymeworks stock. The shares were acquired at an average price of $14.07 per share, with a total value of $295,765.47.
• On Thursday, January 2nd, Ecor1 Capital, Llc purchased 157,880 shares of Zymeworks stock. The stock was bought 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 acquired 58,988 shares of Zymeworks stock. The stock was bought at an average price of $14.47 per share, with a total value of $853,556.36.

Zymeworks Stock Performance

Shares of ZYME opened at $12.79 on Thursday. The firm has a market cap of $889.89 million, a P/E ratio of -8.53 and a beta of 1.13. Zymeworks Inc. has a twelve month low of $7.97 and a twelve month high of $17.70. The firm’s 50 day moving average price is $13.76 and its two-hundred day moving average price is $13.68.

Institutional Investors Weigh In On Zymeworks

Institutional investors have recently added to or reduced their stakes in the stock. Polar Asset Management Partners Inc. acquired a new stake in shares of Zymeworks in the 4th quarter valued at about $527,000. Voloridge Investment Management LLC acquired a new stake in Zymeworks in the 4th quarter valued at approximately $640,000. Point72 Asset Management L.P. lifted its stake in Zymeworks by 565.8% in the 4th quarter. Point72 Asset Management L.P. now owns 330,127 shares of the company’s stock valued at $4,833,000 after acquiring an additional 280,544 shares in the last quarter. Nuveen Asset Management LLC boosted its position in Zymeworks by 0.4% during the 4th quarter. Nuveen Asset Management LLC now owns 207,023 shares of the company’s stock worth $3,031,000 after acquiring an additional 886 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in shares of Zymeworks by 1.2% during the 4th quarter. Deutsche Bank AG now owns 1,546,772 shares of the company’s stock worth $22,645,000 after acquiring an additional 17,849 shares in the last quarter. 92.89% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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