Insider Buying: Zymeworks Inc. (NYSE:ZYME) Director Acquires $853,556.36 in Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc purchased 58,988 shares of Zymeworks stock in a transaction dated Monday, December 30th. The stock was bought at an average price of $14.47 per share, with a total value of $853,556.36. Following the completion of the transaction, the director now owns 14,881,578 shares of the company’s stock, valued at $215,336,433.66. This represents a 0.40 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Thursday, January 2nd, Ecor1 Capital, Llc purchased 157,880 shares of Zymeworks stock. The shares were bought at an average price of $14.78 per share, for a total transaction of $2,333,466.40.
• On Tuesday, December 24th, Ecor1 Capital, Llc acquired 11,958 shares of Zymeworks stock. The shares were purchased at an average cost of $14.12 per share, with a total value of $168,846.96.
• On Thursday, December 26th, Ecor1 Capital, Llc bought 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 Trading Up 1.6 %

Shares of NYSE ZYME opened at $15.01 on Friday. The stock’s 50-day moving average is $14.43 and its 200 day moving average is $12.25. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -10.01 and a beta of 1.12. Zymeworks Inc. has a 1-year low of $7.97 and a 1-year high of $17.70.

Zymeworks (NYSE:ZYME) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.39) EPS for the quarter, topping 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 firm had revenue of $16.00 million for the quarter, compared to the consensus estimate of $17.90 million. During the same period last year, the firm posted ($0.41) earnings per share. The business’s revenue was down 3.1% compared to the same quarter last year. On average, analysts forecast that Zymeworks Inc. will post -1.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ZYME. Leerink Partnrs raised shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Stifel Nicolaus upped their target price on Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Leerink Partners raised Zymeworks from a “market perform” rating to an “outperform” rating and raised their price target for the company from $10.00 to $25.00 in a report on Thursday, November 7th. Wells Fargo & Company boosted their price objective on Zymeworks from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. Finally, Citigroup raised their target price on shares of Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, November 4th. 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.17.

Institutional Trading of Zymeworks

Hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its stake in shares of Zymeworks by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 132,798 shares of the company’s stock valued at $1,667,000 after buying an additional 650 shares during the last quarter. Arizona State Retirement System boosted its holdings in Zymeworks by 11.1% during the 2nd quarter. Arizona State Retirement System now owns 12,841 shares of the company’s stock valued at $109,000 after acquiring an additional 1,285 shares during the period. FMR LLC grew its position in Zymeworks by 84.2% during 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 increased its stake in Zymeworks by 2.1% in the 3rd quarter. Stifel Financial Corp now owns 73,654 shares of the company’s stock worth $924,000 after purchasing an additional 1,540 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in Zymeworks by 13.2% in the second 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.

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.