Insider Buying: Zymeworks Inc. (NYSE:ZYME) Director Buys 74,360 Shares of Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc acquired 74,360 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were bought at an average price of $11.85 per share, with a total value of $881,166.00. Following the completion of the purchase, the director now directly owns 17,382,566 shares in the company, valued at $205,983,407.10. The trade was a 0.43 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, March 31st, Ecor1 Capital, Llc purchased 4,397 shares of Zymeworks stock. The shares were purchased at an average cost of $11.75 per share, with a total value of $51,664.75.
• On Wednesday, March 26th, Ecor1 Capital, Llc acquired 43,848 shares of Zymeworks stock. The stock was purchased at an average cost of $12.24 per share, for a total transaction of $536,699.52.
• On Monday, March 24th, Ecor1 Capital, Llc bought 22,689 shares of Zymeworks stock. The stock was purchased at an average price 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 acquired at an average cost of $12.78 per share, for a total transaction of $396,601.74.
• On Wednesday, March 19th, Ecor1 Capital, Llc bought 58,306 shares of Zymeworks stock. The shares were acquired at an average price of $12.64 per share, for a total transaction of $736,987.84.
• On Monday, March 17th, Ecor1 Capital, Llc purchased 56,277 shares of Zymeworks stock. The stock was acquired at an average price of $12.23 per share, with a total value of $688,267.71.
• On Thursday, March 13th, Ecor1 Capital, Llc acquired 468,356 shares of Zymeworks stock. The shares were bought at an average price of $12.48 per share, for a total transaction of $5,845,082.88.
• On Tuesday, March 11th, Ecor1 Capital, Llc bought 320,690 shares of Zymeworks stock. The stock was bought at an average price of $11.49 per share, with a total value of $3,684,728.10.
• On Friday, January 17th, Ecor1 Capital, Llc purchased 19,748 shares of Zymeworks stock. The shares were bought at an average price of $13.87 per share, for a total transaction of $273,904.76.
• On Wednesday, January 15th, Ecor1 Capital, Llc acquired 39,029 shares of Zymeworks stock. The shares were bought at an average price of $14.01 per share, with a total value of $546,796.29.

Zymeworks Stock Performance

Shares of NYSE ZYME opened at $10.95 on Friday. The company has a market capitalization of $761.87 million, a PE ratio of -7.30 and a beta of 1.18. The company’s fifty day moving average price is $13.31 and its 200 day moving average price is $13.69. Zymeworks Inc. has a 1 year low of $7.97 and a 1 year high of $17.70.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Zymeworks

Several hedge funds have recently modified their holdings of ZYME. Intech Investment Management LLC acquired a new position in Zymeworks in the 3rd quarter worth about $266,000. Charles Schwab Investment Management Inc. raised its stake in shares of Zymeworks by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 132,798 shares of the company’s stock worth $1,667,000 after buying an additional 650 shares during the period. FMR LLC lifted 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 valued at $42,000 after buying an additional 1,525 shares in the last quarter. Stifel Financial Corp grew its stake in Zymeworks by 2.1% in the 3rd quarter. Stifel Financial Corp now owns 73,654 shares of the company’s stock valued at $924,000 after acquiring an additional 1,540 shares during the period. Finally, State Street Corp increased its holdings in Zymeworks by 6.1% in the 3rd quarter. State Street Corp now owns 1,171,777 shares of the company’s stock worth $14,706,000 after acquiring an additional 67,401 shares in the last quarter. 92.89% of the stock is owned by hedge funds and other 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.