Insider Buying: Zymeworks Inc. (NYSE:ZYME) Director Buys $536,699.52 in Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc acquired 43,848 shares of the firm’s stock in a transaction on Wednesday, March 26th. The stock was bought at an average price of $12.24 per share, with a total value of $536,699.52. Following the purchase, the director now directly owns 17,255,151 shares of the company’s stock, valued at $211,203,048.24. This represents a 0.25 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Monday, March 24th, Ecor1 Capital, Llc bought 22,689 shares of Zymeworks stock. The stock was purchased at an average cost of $13.08 per share, with a total value of $296,772.12.
• On Friday, March 21st, Ecor1 Capital, Llc purchased 31,033 shares of Zymeworks stock. The shares were purchased at an average price of $12.78 per share, for a total transaction of $396,601.74.
• On Wednesday, March 19th, Ecor1 Capital, Llc acquired 58,306 shares of Zymeworks stock. The stock was purchased at an average cost of $12.64 per share, with a total value of $736,987.84.
• On Monday, March 17th, Ecor1 Capital, Llc bought 56,277 shares of Zymeworks stock. The stock was acquired at an average cost of $12.23 per share, for a total transaction of $688,267.71.
• On Thursday, March 13th, Ecor1 Capital, Llc purchased 468,356 shares of Zymeworks stock. The shares were acquired at an average price of $12.48 per share, with a total value of $5,845,082.88.
• On Tuesday, March 11th, Ecor1 Capital, Llc acquired 320,690 shares of Zymeworks stock. The stock was acquired at an average price of $11.49 per share, for a total transaction of $3,684,728.10.
• On Friday, January 17th, Ecor1 Capital, Llc bought 19,748 shares of Zymeworks stock. The shares were acquired at an average price of $13.87 per share, with a total value of $273,904.76.
• On Wednesday, January 15th, Ecor1 Capital, Llc purchased 39,029 shares of Zymeworks stock. The stock was bought at an average price of $14.01 per share, for a total transaction of $546,796.29.
• On Monday, January 13th, Ecor1 Capital, Llc acquired 74,125 shares of Zymeworks stock. The shares were bought at an average cost of $13.39 per share, with a total value of $992,533.75.
• On Friday, January 10th, Ecor1 Capital, Llc bought 204,098 shares of Zymeworks stock. The stock was bought at an average cost of $13.13 per share, for a total transaction of $2,679,806.74.

Zymeworks Stock Down 1.1 %

Shares of NYSE ZYME opened at $12.37 on Friday. The stock has a market capitalization of $860.67 million, a price-to-earnings ratio of -8.25 and a beta of 1.13. Zymeworks Inc. has a 52 week low of $7.97 and a 52 week high of $17.70. The firm has a 50-day moving average price of $13.60 and a 200 day moving average price of $13.73.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ZYME shares. Wells Fargo & Company increased their price target on Zymeworks from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. upgraded shares of Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 target price for the company in a research note on Monday, December 16th. Citigroup boosted their price target on shares of Zymeworks from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. HC Wainwright raised their price objective on shares of Zymeworks from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Monday, March 10th. Finally, Lifesci Capital began coverage on Zymeworks in a report on Tuesday, March 11th. They issued an “outperform” rating and a $30.00 price objective on the stock. Two investment 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 company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $21.00.

Institutional Investors Weigh In On Zymeworks

A number of hedge funds and other institutional investors have recently modified their holdings of ZYME. Sterling Capital Management LLC grew its holdings in shares of Zymeworks by 781.5% in 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 during the period. AlphaQuest LLC raised its holdings in Zymeworks by 480.2% during the fourth quarter. AlphaQuest LLC now owns 2,808 shares of the company’s stock worth $41,000 after purchasing an additional 2,324 shares during the last quarter. FMR LLC boosted its position in Zymeworks by 84.2% during the third quarter. FMR LLC now owns 3,336 shares of the company’s stock worth $42,000 after purchasing an additional 1,525 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in Zymeworks in the fourth quarter valued at $108,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Zymeworks by 343.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,704 shares of the company’s stock valued at $142,000 after buying an additional 7,518 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

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.