Insider Buying: Zymeworks Inc. (NYSE:ZYME) Director Acquires 58,306 Shares of Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc bought 58,306 shares of the stock in a transaction on Wednesday, March 19th. The stock was acquired at an average price of $12.64 per share, with a total value of $736,987.84. Following the completion of the acquisition, the director now owns 17,030,604 shares of the company’s stock, valued at $215,266,834.56. This represents a 0.34 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, March 17th, Ecor1 Capital, Llc acquired 56,277 shares of Zymeworks stock. The shares were bought at an average cost of $12.23 per share, with a total value of $688,267.71.
• On Thursday, March 13th, Ecor1 Capital, Llc bought 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 purchased 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 acquired 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 bought 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 purchased 74,125 shares of Zymeworks stock. The shares were purchased at an average cost of $13.39 per share, for a total transaction 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 cost of $13.13 per share, with a total value of $2,679,806.74.
• On Wednesday, January 8th, Ecor1 Capital, Llc bought 21,021 shares of Zymeworks stock. The shares were purchased at an average cost of $14.07 per share, for a total transaction of $295,765.47.
• On Thursday, January 2nd, Ecor1 Capital, Llc purchased 157,880 shares of Zymeworks stock. The shares were acquired 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 acquired at an average cost of $14.47 per share, for a total transaction of $853,556.36.

Zymeworks Trading Up 1.1 %

ZYME stock opened at $12.93 on Friday. The stock has a market cap of $899.63 million, a P/E ratio of -8.62 and a beta of 1.13. The stock’s fifty day simple moving average is $13.73 and its two-hundred day simple moving average is $13.67. Zymeworks Inc. has a 1-year low of $7.97 and a 1-year high of $17.70.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Zymeworks

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Zymeworks by 0.8% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,945,491 shares of the company’s stock worth $24,416,000 after acquiring an additional 14,604 shares during the period. Intech Investment Management LLC bought a new stake in shares of Zymeworks in the 3rd quarter worth approximately $266,000. Charles Schwab Investment Management Inc. lifted its stake in Zymeworks by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 132,798 shares of the company’s stock valued at $1,667,000 after purchasing an additional 650 shares during the last quarter. FMR LLC grew its holdings in Zymeworks by 84.2% during the third quarter. FMR LLC now owns 3,336 shares of the company’s stock valued at $42,000 after purchasing an additional 1,525 shares during the period. Finally, Vestal Point Capital LP increased its position in Zymeworks by 39.8% in the third quarter. Vestal Point Capital LP now owns 615,000 shares of the company’s stock worth $7,718,000 after buying an additional 175,000 shares during 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.