Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc Acquires 16,692 Shares

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc bought 16,692 shares of Zymeworks stock in a transaction on Thursday, December 26th. The shares were purchased at an average cost of $14.38 per share, for a total transaction of $240,030.96. Following the completion of the purchase, the director now directly owns 14,720,931 shares of the company’s stock, valued at $211,686,987.78. This trade represents a 0.11 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Zymeworks Stock Performance

ZYME remained flat at $14.50 on Friday. The company had a trading volume of 461,479 shares, compared to its average volume of 609,735. The business has a fifty day moving average price of $14.25 and a 200-day moving average price of $12.00. Zymeworks Inc. has a 1 year low of $7.97 and a 1 year high of $17.70. The stock has a market capitalization of $998.73 million, a P/E ratio of -9.67 and a beta of 1.12.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.01. The business had revenue of $16.00 million during the quarter, compared to the consensus estimate of $17.90 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.41) earnings per share. Research analysts forecast that Zymeworks Inc. will post -1.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Zymeworks

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ZYME shares. Leerink Partners upgraded Zymeworks from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $10.00 to $25.00 in a report on Thursday, November 7th. JPMorgan Chase & Co. raised shares of Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price target on the stock in a research note on Monday, December 16th. Wells Fargo & Company lifted their target price on shares of Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. Stifel Nicolaus upped their price target on Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Finally, Leerink Partnrs raised Zymeworks from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Zymeworks currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.17.

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.