Insider Buying: Zymeworks Inc. (NYSE:ZYME) Director Purchases 11,958 Shares of Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc bought 11,958 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were acquired at an average cost of $14.12 per share, for a total transaction of $168,846.96. Following the transaction, the director now directly owns 14,704,239 shares in the company, valued at approximately $207,623,854.68. This trade represents a 0.08 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Thursday, December 26th, Ecor1 Capital, Llc acquired 16,692 shares of Zymeworks stock. The shares were acquired at an average cost of $14.38 per share, for a total transaction of $240,030.96.

Zymeworks Price Performance

Shares of ZYME stock remained flat at $14.50 on Friday. The company had a trading volume of 461,479 shares, compared to its average volume of 609,735. The firm has a market capitalization of $998.73 million, a price-to-earnings ratio of -9.67 and a beta of 1.12. The firm has a 50-day moving average of $14.25 and a 200 day moving average of $12.00. Zymeworks Inc. has a 52-week low of $7.97 and a 52-week high of $17.70.

Zymeworks (NYSE:ZYME) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.01. The company had revenue of $16.00 million during the quarter, compared to the consensus estimate of $17.90 million. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.41) earnings per share. Equities analysts forecast that Zymeworks Inc. will post -1.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

ZYME has been the topic of several recent research reports. Citigroup increased their target price on Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Leerink Partners raised Zymeworks from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $10.00 to $25.00 in a research report on Thursday, November 7th. Stifel Nicolaus boosted their target price on shares of Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, October 28th. HC Wainwright restated a “neutral” rating and issued a $12.00 target price on shares of Zymeworks in a research note on Friday, November 22nd. Finally, Wells Fargo & Company upped their price target 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. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.17.

Hedge Funds Weigh In On Zymeworks

A number of institutional investors have recently modified their holdings of the business. Perceptive Advisors LLC grew its position in Zymeworks by 55.2% during the second quarter. Perceptive Advisors LLC now owns 1,667,711 shares of the company’s stock worth $14,192,000 after buying an additional 592,904 shares during the period. Rubric Capital Management LP grew its stake in Zymeworks by 12.7% in the 2nd quarter. Rubric Capital Management LP now owns 3,917,331 shares of the company’s stock worth $33,336,000 after acquiring an additional 441,947 shares during the period. Dimensional Fund Advisors LP increased its stake in Zymeworks by 127.5% in the second quarter. Dimensional Fund Advisors LP now owns 715,632 shares of the company’s stock valued at $6,090,000 after purchasing an additional 401,068 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Zymeworks during the 3rd quarter worth about $4,156,000. Finally, Point72 Asset Management L.P. purchased a new position in Zymeworks during the second quarter worth approximately $1,683,000. 92.89% of the stock is owned by institutional investors and hedge funds.

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.