Ecor1 Capital, Llc Purchases 21,021 Shares of Zymeworks Inc. (NYSE:ZYME) Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc acquired 21,021 shares of Zymeworks stock in a transaction that occurred on Wednesday, January 8th. The shares were purchased at an average cost of $14.07 per share, for a total transaction of $295,765.47. Following the purchase, the director now directly owns 15,206,980 shares of the company’s stock, valued at approximately $213,962,208.60. This trade represents a 0.14 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Friday, January 10th, Ecor1 Capital, Llc purchased 204,098 shares of Zymeworks stock. The stock was acquired at an average price of $13.13 per share, with a total value of $2,679,806.74.
• On Thursday, January 2nd, Ecor1 Capital, Llc acquired 157,880 shares of Zymeworks stock. The shares were acquired at an average price of $14.78 per share, for a total transaction of $2,333,466.40.
• On Monday, December 30th, Ecor1 Capital, Llc bought 58,988 shares of Zymeworks stock. The shares were acquired at an average price of $14.47 per share, for a total transaction 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 price 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 price of $14.38 per share, for a total transaction of $240,030.96.

Zymeworks Stock Performance

Shares of NYSE:ZYME opened at $13.22 on Friday. The business’s 50-day simple moving average is $14.48 and its 200 day simple moving average is $12.45. The company has a market cap of $910.57 million, a P/E ratio of -8.81 and a beta of 1.10. Zymeworks Inc. has a one year low of $7.97 and a one year high of $17.70.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ZYME. Bank of New York Mellon Corp raised its position in shares of Zymeworks by 5.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 309,703 shares of the company’s stock valued at $2,636,000 after purchasing an additional 14,825 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Zymeworks by 18.0% in the second quarter. Principal Financial Group Inc. now owns 30,642 shares of the company’s stock valued at $261,000 after acquiring an additional 4,671 shares in the last quarter. Rhumbline Advisers grew its holdings in Zymeworks by 9.0% during the 2nd quarter. Rhumbline Advisers now owns 86,912 shares of the company’s stock worth $740,000 after acquiring an additional 7,210 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Zymeworks by 23.5% in the 2nd quarter. Victory Capital Management Inc. now owns 58,300 shares of the company’s stock worth $496,000 after purchasing an additional 11,100 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Zymeworks by 11.1% in the 2nd quarter. Arizona State Retirement System now owns 12,841 shares of the company’s stock valued at $109,000 after purchasing an additional 1,285 shares in the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ZYME. Wells Fargo & Company upped their price target 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. Stifel Nicolaus increased their target price on Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. raised Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price target for the company in a research report on Monday, December 16th. HC Wainwright restated a “neutral” rating and issued a $12.00 price objective on shares of Zymeworks in a report on Friday, November 22nd. Finally, Citigroup boosted their target price on Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Zymeworks has an average rating of “Moderate Buy” and a consensus target price of $19.17.

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.