Ecor1 Capital, Llc Purchases 11,958 Shares of Zymeworks Inc. (NYSE:ZYME) Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc acquired 11,958 shares of the stock in a transaction on Tuesday, December 24th. The shares were purchased at an average price 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

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 stock was acquired at an average price of $14.38 per share, with a total value of $240,030.96.

Zymeworks Price Performance

Shares of NYSE ZYME opened at $14.50 on Friday. Zymeworks Inc. has a 12-month low of $7.97 and a 12-month high of $17.70. The firm has a market cap of $998.73 million, a PE ratio of -9.67 and a beta of 1.12. The company’s fifty day simple moving average is $14.25 and its 200 day simple moving average is $12.00.

Zymeworks (NYSE:ZYME) last issued its earnings results on Thursday, October 31st. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.01. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The company had revenue of $16.00 million during the quarter, compared to the consensus estimate of $17.90 million. During the same period last year, the business posted ($0.41) EPS. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, equities analysts predict that Zymeworks Inc. will post -1.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ZYME. Citigroup raised their target price on shares of Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, November 4th. HC Wainwright restated a “neutral” rating and set a $12.00 price objective on shares of Zymeworks in a research report on Friday, November 22nd. Leerink Partnrs upgraded Zymeworks from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. upgraded Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price objective for the company in a research report on Monday, December 16th. Finally, Wells Fargo & Company lifted their target price on Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.17.

Hedge Funds Weigh In On Zymeworks

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

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.