Insider Buying: Zymeworks Inc. (NYSE:ZYME) Director Purchases $3,684,728.10 in Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc bought 320,690 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average price of $11.49 per share, for a total transaction of $3,684,728.10. Following the transaction, the director now owns 16,040,851 shares in the company, valued at $184,309,377.99. This represents a 2.04 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Thursday, March 13th, Ecor1 Capital, Llc bought 468,356 shares of Zymeworks stock. The shares were acquired at an average price of $12.48 per share, for a total transaction of $5,845,082.88.
• On Friday, January 17th, Ecor1 Capital, Llc bought 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 bought 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 bought 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 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 stock was purchased 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 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 purchased 58,988 shares of Zymeworks stock. The stock was purchased 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 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 purchased 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 Price Performance

NYSE:ZYME opened at $12.25 on Friday. The business has a fifty day simple moving average of $13.86 and a two-hundred day simple moving average of $13.66. Zymeworks Inc. has a 1 year low of $7.97 and a 1 year high of $17.70. The company has a market capitalization of $852.32 million, a P/E ratio of -8.17 and a beta of 1.13.

Institutional Trading of Zymeworks

A number of large investors have recently bought and sold shares of the company. Polar Asset Management Partners Inc. purchased a new stake in Zymeworks in the fourth quarter worth $527,000. Voloridge Investment Management LLC bought a new position in shares of Zymeworks in the fourth quarter worth $640,000. Point72 Asset Management L.P. boosted its holdings in shares of Zymeworks by 565.8% in the fourth quarter. Point72 Asset Management L.P. now owns 330,127 shares of the company’s stock worth $4,833,000 after acquiring an additional 280,544 shares during the period. Nuveen Asset Management LLC boosted its holdings in shares of Zymeworks by 0.4% in the fourth quarter. Nuveen Asset Management LLC now owns 207,023 shares of the company’s stock worth $3,031,000 after acquiring an additional 886 shares during the period. Finally, Deutsche Bank AG boosted its holdings in shares of Zymeworks by 1.2% in the fourth quarter. Deutsche Bank AG now owns 1,546,772 shares of the company’s stock worth $22,645,000 after acquiring an additional 17,849 shares during the period. 92.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ZYME shares. JPMorgan Chase & Co. raised Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price objective for the company in a research note on Monday, December 16th. Citigroup increased their price objective on Zymeworks from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Lifesci Capital started coverage on Zymeworks in a research note on Tuesday, March 11th. They issued an “outperform” rating and a $30.00 price objective for the company. Wells Fargo & Company increased their price objective on Zymeworks from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 19th. Finally, HC Wainwright increased their price objective on Zymeworks from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

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.