Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc Acquires 58,306 Shares

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc bought 58,306 shares of Zymeworks stock in a transaction dated Wednesday, March 19th. The stock was acquired at an average price of $12.64 per share, with a total value of $736,987.84. Following the completion of the transaction, the director now directly owns 17,030,604 shares of the company’s stock, valued at approximately $215,266,834.56. The trade was a 0.34 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Monday, March 17th, Ecor1 Capital, Llc purchased 56,277 shares of Zymeworks stock. The shares were bought at an average price of $12.23 per share, with a total value of $688,267.71.
• On Thursday, March 13th, Ecor1 Capital, Llc purchased 468,356 shares of Zymeworks stock. The shares were bought at an average price of $12.48 per share, with a total value of $5,845,082.88.
• On Tuesday, March 11th, Ecor1 Capital, Llc acquired 320,690 shares of Zymeworks stock. The stock was acquired at an average cost of $11.49 per share, with a total value of $3,684,728.10.
• On Friday, January 17th, Ecor1 Capital, Llc purchased 19,748 shares of Zymeworks stock. The stock was purchased at an average price of $13.87 per share, with a total value of $273,904.76.
• On Wednesday, January 15th, Ecor1 Capital, Llc acquired 39,029 shares of Zymeworks stock. The shares were bought 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 acquired at an average cost of $13.39 per share, for a total transaction of $992,533.75.
• On Friday, January 10th, Ecor1 Capital, Llc acquired 204,098 shares of Zymeworks stock. The stock was purchased 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 bought 21,021 shares of Zymeworks stock. The shares were bought at an average price of $14.07 per share, for a total transaction of $295,765.47.
• On Thursday, January 2nd, Ecor1 Capital, Llc acquired 157,880 shares of Zymeworks stock. The stock was 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 stock was purchased at an average price of $14.47 per share, for a total transaction of $853,556.36.

Zymeworks Price Performance

ZYME stock traded up $0.45 during mid-day trading on Wednesday, reaching $12.79. The company had a trading volume of 592,919 shares, compared to its average volume of 478,005. The stock has a 50 day simple moving average of $13.76 and a two-hundred day simple moving average of $13.68. The company has a market capitalization of $889.89 million, a price-to-earnings ratio of -8.53 and a beta of 1.13. Zymeworks Inc. has a 52 week low of $7.97 and a 52 week high of $17.70.

Institutional Trading of Zymeworks

Hedge funds have recently added to or reduced their stakes in the company. Polar Asset Management Partners Inc. acquired a new position in Zymeworks in the 4th quarter valued at $527,000. Voloridge Investment Management LLC bought a new stake in shares of Zymeworks in the 4th quarter valued at about $640,000. Point72 Asset Management L.P. lifted its stake in shares of Zymeworks by 565.8% in the 4th quarter. Point72 Asset Management L.P. now owns 330,127 shares of the company’s stock valued at $4,833,000 after purchasing an additional 280,544 shares during the period. Nuveen Asset Management LLC lifted its stake in shares of Zymeworks by 0.4% in the 4th quarter. Nuveen Asset Management LLC now owns 207,023 shares of the company’s stock valued at $3,031,000 after purchasing an additional 886 shares during the period. Finally, Deutsche Bank AG lifted its stake in shares of Zymeworks by 1.2% in the 4th quarter. Deutsche Bank AG now owns 1,546,772 shares of the company’s stock valued at $22,645,000 after purchasing an additional 17,849 shares during the period. 92.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ZYME has been the subject of a number of analyst reports. Wells Fargo & Company upped their price target on Zymeworks from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. HC Wainwright boosted their price target on shares of Zymeworks from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Monday, March 10th. Lifesci Capital assumed coverage on Zymeworks in a research note on Tuesday, March 11th. They set an “outperform” rating and a $30.00 target price on the stock. 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 note on Monday, December 16th. Finally, Citigroup upped their price target on Zymeworks from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, March 7th. Two equities 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 data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

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.