Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc Buys 56,277 Shares

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc acquired 56,277 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were acquired at an average price of $12.23 per share, for a total transaction of $688,267.71. Following the acquisition, the director now directly owns 16,858,418 shares of the company’s stock, valued at approximately $206,178,452.14. The trade was a 0.33 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, March 19th, Ecor1 Capital, Llc purchased 58,306 shares of Zymeworks stock. The stock was acquired at an average cost of $12.64 per share, for a total transaction of $736,987.84.
• On Thursday, March 13th, Ecor1 Capital, Llc acquired 468,356 shares of Zymeworks stock. The shares were bought at an average cost of $12.48 per share, with a total value of $5,845,082.88.
• On Tuesday, March 11th, Ecor1 Capital, Llc bought 320,690 shares of Zymeworks stock. The stock was bought at an average cost of $11.49 per share, for a total transaction of $3,684,728.10.
• On Friday, January 17th, Ecor1 Capital, Llc purchased 19,748 shares of Zymeworks stock. The shares were bought at an average cost of $13.87 per share, with a total value of $273,904.76.
• On Wednesday, January 15th, Ecor1 Capital, Llc purchased 39,029 shares of Zymeworks stock. The stock was bought at an average price of $14.01 per share, for a total transaction of $546,796.29.
• On Monday, January 13th, Ecor1 Capital, Llc acquired 74,125 shares of Zymeworks stock. The shares were purchased at an average price of $13.39 per share, with a total value of $992,533.75.
• On Friday, January 10th, Ecor1 Capital, Llc bought 204,098 shares of Zymeworks stock. The stock was purchased at an average price of $13.13 per share, for a total transaction of $2,679,806.74.
• On Wednesday, January 8th, Ecor1 Capital, Llc purchased 21,021 shares of Zymeworks stock. The shares were purchased at an average cost of $14.07 per share, with a total value of $295,765.47.
• On Thursday, January 2nd, Ecor1 Capital, Llc acquired 157,880 shares of Zymeworks stock. The stock was purchased 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 bought 58,988 shares of Zymeworks stock. The shares were purchased at an average price of $14.47 per share, with a total value of $853,556.36.

Zymeworks Stock Performance

NYSE:ZYME opened at $12.79 on Thursday. The stock has a market cap of $889.89 million, a price-to-earnings ratio of -8.53 and a beta of 1.13. Zymeworks Inc. has a one year low of $7.97 and a one year high of $17.70. The business’s 50-day simple moving average is $13.76 and its 200 day simple moving average is $13.68.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ZYME shares. Wells Fargo & Company lifted their price target on shares of Zymeworks from $12.00 to $14.00 and gave the company 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 target price on the stock. HC Wainwright increased their price target on Zymeworks from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Monday, March 10th. JPMorgan Chase & Co. upgraded Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price objective on the stock in a research note on Monday, December 16th. Finally, Citigroup increased their target price on Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, March 7th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Zymeworks presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Hedge Funds Weigh In On Zymeworks

Several institutional investors and hedge funds have recently made changes to their positions in the business. Sterling Capital Management LLC increased its stake in shares of Zymeworks by 781.5% in the fourth quarter. Sterling Capital Management LLC now owns 1,719 shares of the company’s stock worth $25,000 after buying an additional 1,524 shares during the last quarter. AlphaQuest LLC boosted its stake in Zymeworks by 480.2% during the 4th quarter. AlphaQuest LLC now owns 2,808 shares of the company’s stock valued at $41,000 after acquiring an additional 2,324 shares during the last quarter. FMR LLC grew its holdings in Zymeworks by 84.2% during the 3rd quarter. FMR LLC now owns 3,336 shares of the company’s stock worth $42,000 after acquiring an additional 1,525 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Zymeworks in the 4th quarter valued at about $108,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Zymeworks by 343.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,704 shares of the company’s stock worth $142,000 after purchasing an additional 7,518 shares during the last quarter. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

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.