Ecor1 Capital, Llc Purchases 468,356 Shares of Zymeworks Inc. (NYSE:ZYME) Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc bought 468,356 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average cost of $12.48 per share, for a total transaction of $5,845,082.88. Following the completion of the purchase, the director now directly owns 16,802,141 shares of the company’s stock, valued at $209,690,719.68. This represents a 2.87 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, March 11th, Ecor1 Capital, Llc purchased 320,690 shares of Zymeworks stock. The shares were acquired at an average price 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 acquired at an average price of $13.87 per share, for a total transaction of $273,904.76.
• On Wednesday, January 15th, Ecor1 Capital, Llc purchased 39,029 shares of Zymeworks stock. The shares were acquired at an average price 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 price of $13.39 per share, for a total transaction of $992,533.75.
• On Friday, January 10th, Ecor1 Capital, Llc purchased 204,098 shares of Zymeworks stock. The shares were acquired 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 acquired at an average price of $14.07 per share, for a total transaction of $295,765.47.
• On Thursday, January 2nd, Ecor1 Capital, Llc purchased 157,880 shares of Zymeworks stock. The shares were acquired 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 purchased 58,988 shares of Zymeworks stock. The shares were acquired at an average price of $14.47 per share, for a total transaction of $853,556.36.
• On Tuesday, December 24th, Ecor1 Capital, Llc bought 11,958 shares of Zymeworks stock. The stock was purchased at an average price of $14.12 per share, for a total transaction of $168,846.96.
• On Thursday, December 26th, Ecor1 Capital, Llc bought 16,692 shares of Zymeworks stock. The stock was purchased at an average price of $14.38 per share, for a total transaction of $240,030.96.

Zymeworks Stock Down 2.4 %

NYSE:ZYME opened at $12.25 on Friday. The stock has a market cap of $852.32 million, a P/E ratio of -8.17 and a beta of 1.13. The firm’s fifty day simple moving average is $13.92 and its 200 day simple moving average is $13.64. Zymeworks Inc. has a twelve month low of $7.97 and a twelve month high of $17.70.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ZYME shares. 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. HC Wainwright raised their target price on shares of Zymeworks from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Monday, March 10th. Lifesci Capital started coverage on shares of Zymeworks in a report on Tuesday. They issued an “outperform” rating and a $30.00 target price on the stock. Citigroup raised their target price on shares of Zymeworks from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, March 7th. Finally, 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 report on Thursday, December 19th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average 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 added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in Zymeworks by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 132,798 shares of the company’s stock valued at $1,667,000 after buying an additional 650 shares during the period. Nuveen Asset Management LLC lifted its position in Zymeworks by 0.4% during the fourth quarter. Nuveen Asset Management LLC now owns 207,023 shares of the company’s stock valued at $3,031,000 after buying an additional 886 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in Zymeworks by 6.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,605 shares of the company’s stock valued at $214,000 after buying an additional 940 shares during the period. Sterling Capital Management LLC lifted its position in Zymeworks by 781.5% during the fourth quarter. Sterling Capital Management LLC now owns 1,719 shares of the company’s stock valued at $25,000 after buying an additional 1,524 shares during the period. Finally, FMR LLC lifted its position in Zymeworks by 84.2% during the third quarter. FMR LLC now owns 3,336 shares of the company’s stock valued at $42,000 after buying an additional 1,525 shares during the period. Hedge funds and other institutional investors own 92.89% of the company’s stock.

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.