Insider Buying: Zymeworks Inc. (NYSE:ZYME) Director Buys $546,796.29 in Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc bought 39,029 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were purchased at an average cost of $14.01 per share, for a total transaction of $546,796.29. Following the completion of the transaction, the director now owns 15,578,732 shares of the company’s stock, valued at $218,258,035.32. This represents a 0.25 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 shares were purchased at an average price of $13.13 per share, for a total transaction of $2,679,806.74.
• On Wednesday, January 8th, Ecor1 Capital, Llc bought 21,021 shares of Zymeworks stock. The stock was purchased at an average cost of $14.07 per share, with a total value of $295,765.47.
• On Thursday, January 2nd, Ecor1 Capital, Llc purchased 157,880 shares of Zymeworks stock. The stock was acquired at an average cost of $14.78 per share, for a total transaction of $2,333,466.40.
• On Monday, December 30th, Ecor1 Capital, Llc acquired 58,988 shares of Zymeworks stock. The shares were acquired at an average cost of $14.47 per share, with a total value of $853,556.36.
• On Tuesday, December 24th, Ecor1 Capital, Llc purchased 11,958 shares of Zymeworks stock. The stock was acquired at an average cost of $14.12 per share, with a total value of $168,846.96.
• On Thursday, December 26th, Ecor1 Capital, Llc acquired 16,692 shares of Zymeworks stock. The shares were bought at an average cost of $14.38 per share, for a total transaction of $240,030.96.

Zymeworks Stock Down 0.8 %

Zymeworks stock opened at $13.88 on Friday. The stock has a 50-day simple moving average of $14.30 and a 200 day simple moving average of $12.61. The stock has a market capitalization of $956.03 million, a price-to-earnings ratio of -9.25 and a beta of 1.10. Zymeworks Inc. has a 12-month low of $7.97 and a 12-month high of $17.70.

Zymeworks (NYSE:ZYME) last announced its earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.01. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The company had revenue of $16.00 million during the quarter, compared to the consensus estimate of $17.90 million. During the same period in the previous year, the firm posted ($0.41) earnings per share. The company’s revenue was down 3.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Zymeworks Inc. will post -1.39 EPS for the current year.

Analyst Upgrades and Downgrades

ZYME has been the subject of several analyst reports. HC Wainwright restated a “neutral” rating and set a $12.00 target price on shares of Zymeworks in a research report on Friday, November 22nd. Leerink Partners upgraded Zymeworks from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $10.00 to $25.00 in a research note on Thursday, November 7th. Wells Fargo & Company boosted their target price 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. Stifel Nicolaus increased their target price on shares of Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, Leerink Partnrs upgraded shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Zymeworks presently has a consensus rating of “Moderate Buy” and an average target price of $19.17.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ZYME. SG Americas Securities LLC raised its holdings in Zymeworks by 30.4% during the 4th quarter. SG Americas Securities LLC now owns 26,782 shares of the company’s stock worth $392,000 after purchasing an additional 6,239 shares during the last quarter. Ritholtz Wealth Management raised its stake in shares of Zymeworks by 6.1% during the fourth quarter. Ritholtz Wealth Management now owns 74,466 shares of the company’s stock worth $1,090,000 after buying an additional 4,297 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Zymeworks by 93.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 642,251 shares of the company’s stock valued at $9,403,000 after buying an additional 311,107 shares during the period. Barclays PLC boosted its stake in Zymeworks by 476.3% in the third quarter. Barclays PLC now owns 154,384 shares of the company’s stock valued at $1,937,000 after acquiring an additional 127,595 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in Zymeworks by 27.3% during the 3rd quarter. Jane Street Group LLC now owns 80,326 shares of the company’s stock worth $1,008,000 after acquiring an additional 17,205 shares during the period. Institutional investors and hedge funds own 92.89% of the company’s stock.

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.