Zymeworks Inc. (NYSE:ZYME) Director Acquires $2,679,806.74 in Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc purchased 204,098 shares of the stock in a transaction on Friday, January 10th. The stock was acquired at an average cost of $13.13 per share, with a total value of $2,679,806.74. Following the acquisition, the director now owns 15,411,078 shares of the company’s stock, valued at approximately $202,347,454.14. This represents a 1.34 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, January 8th, Ecor1 Capital, Llc acquired 21,021 shares of Zymeworks stock. The stock was bought at an average cost of $14.07 per share, with a total value of $295,765.47.
• On Thursday, January 2nd, Ecor1 Capital, Llc bought 157,880 shares of Zymeworks stock. The shares were bought at an average cost of $14.78 per share, for a total transaction of $2,333,466.40.
• On Monday, December 30th, Ecor1 Capital, Llc acquired 58,988 shares of Zymeworks stock. The shares were bought at an average price of $14.47 per share, with a total value of $853,556.36.
• On Tuesday, December 24th, Ecor1 Capital, Llc bought 11,958 shares of Zymeworks stock. The stock was purchased at an average cost 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 shares were purchased at an average cost of $14.38 per share, with a total value of $240,030.96.

Zymeworks Stock Performance

Shares of ZYME traded down $0.91 during trading hours on Friday, hitting $13.22. The stock had a trading volume of 798,973 shares, compared to its average volume of 594,729. The firm has a 50-day moving average price of $14.48 and a 200 day moving average price of $12.39. Zymeworks Inc. has a fifty-two week low of $7.97 and a fifty-two week high of $17.70. The firm has a market capitalization of $910.57 million, a price-to-earnings ratio of -8.81 and a beta of 1.10.

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

Analysts Set New Price Targets

ZYME has been the subject of several research analyst reports. Wells Fargo & Company raised 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. Leerink Partners upgraded shares of Zymeworks from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $10.00 to $25.00 in a research note on Thursday, November 7th. Stifel Nicolaus increased their price objective 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. HC Wainwright restated a “neutral” rating and set a $12.00 target price on shares of Zymeworks in a research report on Friday, November 22nd. Finally, Leerink Partnrs raised shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.17.

Hedge Funds Weigh In On Zymeworks

A number of large investors have recently bought and sold shares of the business. Perceptive Advisors LLC increased its stake in shares of Zymeworks by 55.2% during the second quarter. Perceptive Advisors LLC now owns 1,667,711 shares of the company’s stock worth $14,192,000 after purchasing an additional 592,904 shares in the last quarter. Rubric Capital Management LP increased its stake in Zymeworks by 12.7% during the 2nd quarter. Rubric Capital Management LP now owns 3,917,331 shares of the company’s stock worth $33,336,000 after buying an additional 441,947 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Zymeworks by 127.5% during the second quarter. Dimensional Fund Advisors LP now owns 715,632 shares of the company’s stock valued at $6,090,000 after acquiring an additional 401,068 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Zymeworks during the third quarter valued at approximately $4,156,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Zymeworks in the second quarter valued at approximately $1,683,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

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.