Insider Buying: Zymeworks Inc. (NYSE:ZYME) Director Purchases 56,277 Shares of Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc bought 56,277 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was purchased at an average cost of $12.23 per share, for a total transaction of $688,267.71. Following the completion of the transaction, the director now owns 16,858,418 shares in the company, valued at $206,178,452.14. This trade represents a 0.33 % 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 Wednesday, March 19th, Ecor1 Capital, Llc bought 58,306 shares of Zymeworks stock. The stock was purchased at an average cost of $12.64 per share, for a total transaction of $736,987.84.
• On Thursday, March 13th, Ecor1 Capital, Llc bought 468,356 shares of Zymeworks stock. The stock was purchased at an average cost 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 purchased at an average cost 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 stock was purchased at an average cost 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 cost of $14.01 per share, for a total transaction of $546,796.29.
• On Monday, January 13th, Ecor1 Capital, Llc bought 74,125 shares of Zymeworks stock. The stock was 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 purchased 204,098 shares of Zymeworks stock. The shares were bought at an average cost of $13.13 per share, for a total transaction of $2,679,806.74.
• On Wednesday, January 8th, Ecor1 Capital, Llc purchased 21,021 shares of Zymeworks stock. The shares were bought 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 bought 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 purchased 58,988 shares of Zymeworks stock. The shares were bought at an average cost of $14.47 per share, for a total transaction of $853,556.36.

Zymeworks Trading Down 1.6 %

Shares of Zymeworks stock opened at $12.72 on Friday. The firm has a market capitalization of $885.02 million, a PE ratio of -8.48 and a beta of 1.13. Zymeworks Inc. has a twelve month low of $7.97 and a twelve month high of $17.70. The firm’s 50-day moving average price is $13.72 and its 200 day moving average price is $13.68.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ZYME. Blackstone Inc. lifted its stake in Zymeworks by 2,171.4% in the 4th quarter. Blackstone Inc. now owns 569,715 shares of the company’s stock valued at $8,341,000 after buying an additional 544,633 shares in the last quarter. Walleye Capital LLC purchased a new position in Zymeworks in the 4th quarter worth approximately $6,629,000. Schroder Investment Management Group purchased a new position in Zymeworks in the 4th quarter worth approximately $4,892,000. Assenagon Asset Management S.A. lifted its stake in Zymeworks by 93.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 642,251 shares of the company’s stock worth $9,403,000 after purchasing an additional 311,107 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in Zymeworks by 565.8% in the 4th quarter. Point72 Asset Management L.P. now owns 330,127 shares of the company’s stock worth $4,833,000 after purchasing an additional 280,544 shares in the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Lifesci Capital assumed coverage on Zymeworks in a research report on Tuesday, March 11th. They set an “outperform” rating and a $30.00 price target on the stock. HC Wainwright increased 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. Citigroup raised their target price on Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, March 7th. 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. Finally, 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 research report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

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.