Insider Buying: Zymeworks Inc. (NYSE:ZYME) Director Acquires 196,438 Shares of Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc purchased 196,438 shares of the firm’s stock in a transaction on Friday, April 4th. The stock was bought at an average price of $11.17 per share, for a total transaction of $2,194,212.46. Following the completion of the transaction, the director now directly owns 17,699,774 shares in the company, valued at approximately $197,706,475.58. The trade was a 1.12 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, April 2nd, Ecor1 Capital, Llc bought 74,360 shares of Zymeworks stock. The stock was bought at an average price of $11.85 per share, with a total value of $881,166.00.
• On Monday, March 31st, Ecor1 Capital, Llc bought 4,397 shares of Zymeworks stock. The shares were purchased at an average cost of $11.75 per share, for a total transaction of $51,664.75.
• On Wednesday, March 26th, Ecor1 Capital, Llc purchased 43,848 shares of Zymeworks stock. The stock was purchased at an average cost of $12.24 per share, with a total value of $536,699.52.
• On Monday, March 24th, Ecor1 Capital, Llc acquired 22,689 shares of Zymeworks stock. The shares were purchased at an average price of $13.08 per share, for a total transaction of $296,772.12.
• On Friday, March 21st, Ecor1 Capital, Llc bought 31,033 shares of Zymeworks stock. The stock was purchased at an average cost of $12.78 per share, with a total value of $396,601.74.
• On Wednesday, March 19th, Ecor1 Capital, Llc purchased 58,306 shares of Zymeworks stock. The stock was acquired at an average cost of $12.64 per share, for a total transaction of $736,987.84.
• On Monday, March 17th, Ecor1 Capital, Llc acquired 56,277 shares of Zymeworks stock. The shares were acquired 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 stock was acquired 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 purchased 320,690 shares of Zymeworks stock. The shares were acquired 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 stock was bought at an average price of $13.87 per share, for a total transaction of $273,904.76.

Zymeworks Stock Performance

Shares of NYSE ZYME traded down $0.52 during trading on Monday, reaching $10.43. The company had a trading volume of 1,187,747 shares, compared to its average volume of 605,866. Zymeworks Inc. has a 52 week low of $7.97 and a 52 week high of $17.70. The business’s 50 day moving average price is $13.31 and its 200-day moving average price is $13.71. The stock has a market cap of $725.69 million, a PE ratio of -6.95 and a beta of 1.18.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Sterling Capital Management LLC boosted its position in Zymeworks by 781.5% in the 4th quarter. Sterling Capital Management LLC now owns 1,719 shares of the company’s stock valued at $25,000 after buying an additional 1,524 shares during the last quarter. AlphaQuest LLC boosted its holdings in Zymeworks by 480.2% in the fourth quarter. AlphaQuest LLC now owns 2,808 shares of the company’s stock valued at $41,000 after acquiring an additional 2,324 shares during the last quarter. FMR LLC increased its position in Zymeworks by 84.2% in the third quarter. FMR LLC now owns 3,336 shares of the company’s stock worth $42,000 after purchasing an additional 1,525 shares during the period. GAMMA Investing LLC raised its holdings in Zymeworks by 1,113.3% during the 1st quarter. GAMMA Investing LLC now owns 6,467 shares of the company’s stock worth $77,000 after purchasing an additional 5,934 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in Zymeworks during the 4th quarter valued at about $108,000. Institutional investors own 92.89% of the company’s stock.

About Zymeworks

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.