Zymeworks Inc. (NYSE:ZYME) Director Purchases $2,333,466.40 in Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc acquired 157,880 shares of the stock in a transaction on Thursday, January 2nd. The stock was bought at an average price of $14.78 per share, for a total transaction of $2,333,466.40. Following the transaction, the director now owns 15,185,959 shares in the company, valued at approximately $224,448,474.02. This represents a 1.05 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Monday, December 30th, Ecor1 Capital, Llc bought 58,988 shares of Zymeworks stock. The stock was purchased at an average price of $14.47 per share, with a total value of $853,556.36.
• On Tuesday, December 24th, Ecor1 Capital, Llc purchased 11,958 shares of Zymeworks stock. The shares were 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 acquired 16,692 shares of Zymeworks stock. The stock was purchased at an average price of $14.38 per share, with a total value of $240,030.96.

Zymeworks Stock Performance

Shares of ZYME stock opened at $14.78 on Friday. Zymeworks Inc. has a fifty-two week low of $7.97 and a fifty-two week high of $17.70. The stock’s fifty day moving average is $14.39 and its two-hundred day moving average is $12.18. The firm has a market capitalization of $1.02 billion, a P/E ratio of -9.85 and a beta of 1.12.

Zymeworks (NYSE:ZYME) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.01. The firm had revenue of $16.00 million for 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 company’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period last year, the firm posted ($0.41) earnings per share. On average, equities analysts forecast that Zymeworks Inc. will post -1.43 earnings per share for the current year.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

Several brokerages recently weighed in on ZYME. Wells Fargo & Company lifted their price target on Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. Leerink Partnrs upgraded Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Leerink Partners raised shares of Zymeworks from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $10.00 to $25.00 in a report on Thursday, November 7th. Citigroup increased their price objective on shares of Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, 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 research note on Monday, October 28th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Zymeworks currently has an average rating of “Moderate Buy” and an average price target of $19.17.

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.