Insider Buying: Zymeworks Inc. (NYSE:ZYME) Director Acquires 74,125 Shares of Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc bought 74,125 shares of the stock in a transaction dated Monday, January 13th. The stock was purchased at an average price of $13.39 per share, with a total value of $992,533.75. Following the acquisition, the director now owns 15,485,203 shares of the company’s stock, valued at $207,346,868.17. The trade was a 0.48 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Wednesday, January 15th, Ecor1 Capital, Llc bought 39,029 shares of Zymeworks stock. The shares were purchased at an average cost of $14.01 per share, for a total transaction of $546,796.29.
• On Friday, January 10th, Ecor1 Capital, Llc acquired 204,098 shares of Zymeworks stock. The stock was bought 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 acquired 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 purchased 157,880 shares of Zymeworks stock. The shares were purchased at an average cost 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 purchased at an average cost of $14.47 per share, with a total value of $853,556.36.
• On Tuesday, December 24th, Ecor1 Capital, Llc acquired 11,958 shares of Zymeworks stock. The shares were acquired at an average cost of $14.12 per share, for a total transaction of $168,846.96.
• On Thursday, December 26th, Ecor1 Capital, Llc purchased 16,692 shares of Zymeworks stock. The stock was acquired at an average cost of $14.38 per share, for a total transaction of $240,030.96.

Zymeworks Trading Up 3.1 %

Shares of ZYME traded up $0.42 during trading hours on Wednesday, reaching $14.04. 383,497 shares of the company’s stock traded hands, compared to its average volume of 564,289. Zymeworks Inc. has a 12 month low of $7.97 and a 12 month high of $17.70. The stock has a market cap of $967.05 million, a PE ratio of -9.36 and a beta of 1.10. The firm’s 50 day simple moving average is $14.45 and its 200-day simple moving average is $12.55.

Zymeworks (NYSE:ZYME) last released 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 business had revenue of $16.00 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.41) EPS. As a group, analysts expect that Zymeworks Inc. will post -1.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ZYME. Charles Schwab Investment Management Inc. lifted its stake in Zymeworks by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 132,798 shares of the company’s stock worth $1,667,000 after purchasing an additional 650 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Zymeworks by 11.1% during the 2nd quarter. Arizona State Retirement System now owns 12,841 shares of the company’s stock valued at $109,000 after buying an additional 1,285 shares in the last quarter. FMR LLC lifted its position in Zymeworks by 84.2% in the 3rd quarter. FMR LLC now owns 3,336 shares of the company’s stock worth $42,000 after buying an additional 1,525 shares during the last quarter. Stifel Financial Corp boosted its stake in Zymeworks by 2.1% in the third quarter. Stifel Financial Corp now owns 73,654 shares of the company’s stock worth $924,000 after buying an additional 1,540 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Zymeworks by 13.2% during the second quarter. The Manufacturers Life Insurance Company now owns 22,695 shares of the company’s stock valued at $193,000 after acquiring an additional 2,653 shares during the last quarter. Institutional investors own 92.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ZYME. Wells Fargo & Company lifted their price objective on shares of Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. Leerink Partners upgraded Zymeworks from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $10.00 to $25.00 in a research report on Thursday, November 7th. JPMorgan Chase & Co. raised Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price objective on the stock in a report on Monday, December 16th. Leerink Partnrs raised Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Finally, Stifel Nicolaus increased their price target on shares of Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Zymeworks currently has a consensus 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.