Ecor1 Capital, Llc Purchases 21,021 Shares of Zymeworks Inc. (NYSE:ZYME) Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc purchased 21,021 shares of Zymeworks stock in a transaction on Wednesday, January 8th. The stock was purchased at an average price of $14.07 per share, for a total transaction of $295,765.47. Following the completion of the transaction, the director now owns 15,206,980 shares of the company’s stock, valued at approximately $213,962,208.60. This represents a 0.14 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• 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, with a total value of $2,679,806.74.
• On Thursday, January 2nd, Ecor1 Capital, Llc acquired 157,880 shares of Zymeworks stock. The stock was acquired at an average price of $14.78 per share, with a total value of $2,333,466.40.
• On Monday, December 30th, Ecor1 Capital, Llc bought 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 purchased 11,958 shares of Zymeworks stock. The shares were bought at an average price 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 bought at an average cost of $14.38 per share, with a total value of $240,030.96.

Zymeworks Stock Down 6.4 %

Zymeworks stock traded down $0.91 during midday trading on Friday, hitting $13.22. 798,973 shares of the stock were exchanged, compared to its average volume of 594,729. Zymeworks Inc. has a 52 week low of $7.97 and a 52 week high of $17.70. The stock has a market capitalization of $910.57 million, a PE ratio of -8.81 and a beta of 1.10. The company has a fifty day simple moving average of $14.48 and a two-hundred day simple moving average of $12.39.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC increased its position in shares of Zymeworks by 476.3% during the third quarter. Barclays PLC now owns 154,384 shares of the company’s stock worth $1,937,000 after acquiring an additional 127,595 shares in the last quarter. Jane Street Group LLC raised its stake in shares of Zymeworks by 27.3% in the 3rd quarter. Jane Street Group LLC now owns 80,326 shares of the company’s stock valued at $1,008,000 after purchasing an additional 17,205 shares during the period. State Street Corp lifted its holdings in shares of Zymeworks by 6.1% in the third quarter. State Street Corp now owns 1,171,777 shares of the company’s stock valued at $14,706,000 after purchasing an additional 67,401 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Zymeworks by 2.1% during 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 during the period. Finally, Vestal Point Capital LP grew its holdings in shares of Zymeworks by 39.8% during the third quarter. Vestal Point Capital LP now owns 615,000 shares of the company’s stock worth $7,718,000 after buying an additional 175,000 shares in the last quarter. 92.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ZYME shares. Stifel Nicolaus increased their price objective on Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, October 28th. HC Wainwright reiterated a “neutral” rating and issued a $12.00 price objective on shares of Zymeworks in a research report on Friday, November 22nd. 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 research report on Monday, December 16th. Wells Fargo & Company raised their target price 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. Finally, Citigroup boosted their price target on shares of Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average 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.