Ecor1 Capital, Llc Purchases 56,277 Shares of Zymeworks Inc. (NYSE:ZYME) Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc purchased 56,277 shares of the stock in a transaction on Monday, March 17th. The stock was acquired at an average cost of $12.23 per share, for a total transaction of $688,267.71. Following the completion of the acquisition, the director now owns 16,858,418 shares of the company’s stock, valued at $206,178,452.14. The trade was a 0.33 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, March 19th, Ecor1 Capital, Llc purchased 58,306 shares of Zymeworks stock. The stock was acquired at an average cost of $12.64 per share, for a total transaction of $736,987.84.
• On Thursday, March 13th, Ecor1 Capital, Llc purchased 468,356 shares of Zymeworks stock. The stock was acquired at an average cost of $12.48 per share, for a total transaction of $5,845,082.88.
• On Tuesday, March 11th, Ecor1 Capital, Llc purchased 320,690 shares of Zymeworks stock. The stock was acquired at an average cost of $11.49 per share, for a total transaction of $3,684,728.10.
• On Friday, January 17th, Ecor1 Capital, Llc acquired 19,748 shares of Zymeworks stock. The stock was purchased at an average price of $13.87 per share, with a total value of $273,904.76.
• On Wednesday, January 15th, Ecor1 Capital, Llc acquired 39,029 shares of Zymeworks stock. The stock was purchased at an average price of $14.01 per share, with a total value of $546,796.29.
• On Monday, January 13th, Ecor1 Capital, Llc acquired 74,125 shares of Zymeworks stock. The stock was purchased at an average price of $13.39 per share, with a total value of $992,533.75.
• On Friday, January 10th, Ecor1 Capital, Llc acquired 204,098 shares of Zymeworks stock. The stock was purchased at an average price of $13.13 per share, with a total value of $2,679,806.74.
• On Wednesday, January 8th, Ecor1 Capital, Llc acquired 21,021 shares of Zymeworks stock. The stock was purchased at an average price of $14.07 per share, with a total value of $295,765.47.
• On Thursday, January 2nd, Ecor1 Capital, Llc acquired 157,880 shares of Zymeworks stock. The stock was purchased at an average price of $14.78 per share, with a total value of $2,333,466.40.
• On Monday, December 30th, Ecor1 Capital, Llc acquired 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.

Zymeworks Trading Up 3.6 %

ZYME traded up $0.45 during mid-day trading on Wednesday, hitting $12.79. 592,919 shares of the stock were exchanged, compared to its average volume of 478,005. The firm’s fifty day moving average is $13.76 and its two-hundred day moving average is $13.68. Zymeworks Inc. has a 1-year low of $7.97 and a 1-year high of $17.70. The company has a market cap of $889.89 million, a PE ratio of -8.53 and a beta of 1.13.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Zymeworks

Hedge funds have recently bought and sold shares of the company. Sterling Capital Management LLC lifted its stake in Zymeworks by 781.5% during the 4th quarter. Sterling Capital Management LLC now owns 1,719 shares of the company’s stock worth $25,000 after acquiring an additional 1,524 shares in the last quarter. AlphaQuest LLC raised its position in Zymeworks by 480.2% in the 4th quarter. AlphaQuest LLC now owns 2,808 shares of the company’s stock valued at $41,000 after purchasing an additional 2,324 shares in the last quarter. FMR LLC raised its position in shares of 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 in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Zymeworks during the 4th quarter worth about $108,000. Finally, Tower Research Capital LLC TRC grew its stake in Zymeworks by 343.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,704 shares of the company’s stock worth $142,000 after buying an additional 7,518 shares during the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

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.