Insider Buying: Zymeworks Inc. (NYSE:ZYME) Director Acquires 31,033 Shares of Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc acquired 31,033 shares of the business’s stock in a transaction dated Friday, March 21st. The stock was acquired at an average price of $12.78 per share, with a total value of $396,601.74. Following the completion of the transaction, the director now directly owns 17,135,113 shares of the company’s stock, valued at approximately $218,986,744.14. This represents a 0.18 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, March 24th, Ecor1 Capital, Llc purchased 22,689 shares of Zymeworks stock. The stock was bought at an average cost of $13.08 per share, for a total transaction of $296,772.12.
• On Wednesday, March 19th, Ecor1 Capital, Llc acquired 58,306 shares of Zymeworks stock. The shares were bought at an average price of $12.64 per share, with a total value of $736,987.84.
• On Monday, March 17th, Ecor1 Capital, Llc bought 56,277 shares of Zymeworks stock. The stock was bought at an average price of $12.23 per share, for a total transaction 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 purchased at an average price 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 price of $13.87 per share, for a total transaction of $273,904.76.
• On Wednesday, January 15th, Ecor1 Capital, Llc purchased 39,029 shares of Zymeworks stock. The shares were purchased at an average price of $14.01 per share, with a total value of $546,796.29.
• On Monday, January 13th, Ecor1 Capital, Llc bought 74,125 shares of Zymeworks stock. The shares were 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 bought 204,098 shares of Zymeworks stock. The shares were acquired at an average cost of $13.13 per share, with a total value of $2,679,806.74.
• On Wednesday, January 8th, Ecor1 Capital, Llc purchased 21,021 shares of Zymeworks stock. The shares were acquired at an average price of $14.07 per share, for a total transaction of $295,765.47.

Zymeworks Stock Down 1.9 %

Shares of Zymeworks stock opened at $12.80 on Wednesday. The firm has a market cap of $890.59 million, a PE 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. The business’s fifty day simple moving average is $13.69 and its 200-day simple moving average is $13.73.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Intech Investment Management LLC acquired a new stake in shares of Zymeworks during the third quarter valued at about $266,000. Charles Schwab Investment Management Inc. increased its holdings in Zymeworks by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 132,798 shares of the company’s stock valued at $1,667,000 after purchasing an additional 650 shares during the last quarter. FMR LLC raised its position in Zymeworks by 84.2% in the third quarter. FMR LLC now owns 3,336 shares of the company’s stock valued at $42,000 after purchasing an additional 1,525 shares during the period. Vestal Point Capital LP raised its position in Zymeworks by 39.8% in the third quarter. Vestal Point Capital LP now owns 615,000 shares of the company’s stock valued at $7,718,000 after purchasing an additional 175,000 shares during the period. Finally, Stifel Financial Corp lifted its stake in Zymeworks by 2.1% during the third quarter. Stifel Financial Corp now owns 73,654 shares of the company’s stock worth $924,000 after purchasing an additional 1,540 shares in the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ZYME shares. Lifesci Capital began coverage on shares of Zymeworks in a research note on Tuesday, March 11th. They issued an “outperform” rating and a $30.00 target price on the stock. HC Wainwright lifted their price objective on Zymeworks from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Monday, March 10th. JPMorgan Chase & Co. upgraded Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 target price for the company in a report on Monday, December 16th. Wells Fargo & Company raised their target price on Zymeworks from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 19th. Finally, Citigroup boosted their price target on shares of Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, March 7th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Zymeworks presently has an average 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.