Ecor1 Capital, Llc Purchases 5,919 Shares of Zymeworks Inc. (NYSE:ZYME) Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc acquired 5,919 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The stock was purchased at an average price of $11.78 per share, for a total transaction of $69,725.82. Following the acquisition, the director now directly owns 17,883,908 shares in the company, valued at approximately $210,672,436.24. This trade represents a 0.03% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Thursday, May 15th, Ecor1 Capital, Llc acquired 49,502 shares of Zymeworks stock. The stock was purchased at an average price of $11.43 per share, for a total transaction of $565,807.86.
• On Wednesday, April 16th, Ecor1 Capital, Llc acquired 73,953 shares of Zymeworks stock. The stock was purchased at an average price of $11.16 per share, for a total transaction of $825,315.48.
• On Friday, April 4th, Ecor1 Capital, Llc acquired 196,438 shares of Zymeworks stock. The stock was purchased at an average price of $11.17 per share, for a total transaction of $2,194,212.46.
• On Wednesday, April 2nd, Ecor1 Capital, Llc acquired 74,360 shares of Zymeworks stock. The stock was purchased at an average price of $11.85 per share, for a total transaction of $881,166.00.
• On Monday, March 31st, Ecor1 Capital, Llc acquired 4,397 shares of Zymeworks stock. The stock was purchased at an average price of $11.75 per share, for a total transaction of $51,664.75.
• On Wednesday, March 26th, Ecor1 Capital, Llc bought 43,848 shares of Zymeworks stock. The shares were bought at an average cost of $12.24 per share, with a total value of $536,699.52.
• On Monday, March 24th, Ecor1 Capital, Llc bought 22,689 shares of Zymeworks stock. The shares were bought at an average cost of $13.08 per share, with a total value of $296,772.12.
• On Friday, March 21st, Ecor1 Capital, Llc bought 31,033 shares of Zymeworks stock. The shares were bought at an average cost of $12.78 per share, with a total value of $396,601.74.
• On Wednesday, March 19th, Ecor1 Capital, Llc bought 58,306 shares of Zymeworks stock. The shares were bought at an average cost of $12.64 per share, with a total value of $736,987.84.
• On Monday, March 17th, Ecor1 Capital, Llc bought 56,277 shares of Zymeworks stock. The shares were bought at an average cost of $12.23 per share, with a total value of $688,267.71.

Zymeworks Stock Performance

NYSE:ZYME opened at $12.43 on Wednesday. The stock has a 50-day simple moving average of $11.80 and a 200-day simple moving average of $13.37. The stock has a market cap of $864.84 million, a P/E ratio of -8.29 and a beta of 1.24. Zymeworks Inc. has a 1 year low of $8.21 and a 1 year high of $17.70.

Zymeworks (NYSE:ZYME) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.15. The business had revenue of $27.11 million during the quarter, compared to analysts’ expectations of $20.65 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The business’s quarterly revenue was up 170.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.42) EPS. On average, equities research analysts predict that Zymeworks Inc. will post -1.39 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. EcoR1 Capital LLC lifted its holdings in shares of Zymeworks by 14.8% in the 1st quarter. EcoR1 Capital LLC now owns 17,259,548 shares of the company’s stock valued at $205,561,000 after purchasing an additional 2,231,469 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Zymeworks by 184.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,879,945 shares of the company’s stock valued at $46,210,000 after purchasing an additional 2,514,834 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Zymeworks by 0.4% in the 1st quarter. Deutsche Bank AG now owns 1,552,612 shares of the company’s stock valued at $18,492,000 after purchasing an additional 5,840 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Zymeworks by 14.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 972,742 shares of the company’s stock valued at $14,240,000 after purchasing an additional 123,240 shares during the last quarter. Finally, Bridgeway Capital Management LLC lifted its holdings in shares of Zymeworks by 1.0% in the 1st quarter. Bridgeway Capital Management LLC now owns 766,944 shares of the company’s stock valued at $9,134,000 after purchasing an additional 7,291 shares during the last quarter. 92.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on ZYME. HC Wainwright boosted their target price on Zymeworks from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Monday, March 10th. TD Securities began coverage on Zymeworks in a research note on Tuesday. They set a “buy” rating for the company. TD Cowen began coverage on Zymeworks in a research note on Tuesday. They set a “buy” rating for the company. Lifesci Capital began coverage on Zymeworks in a research note on Tuesday, March 11th. They set an “outperform” rating and a $30.00 target price for the company. Finally, Citigroup boosted their target price on Zymeworks from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.