Insider Buying: Zymeworks Inc. (NYSE:ZYME) Director Buys 157,880 Shares of Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc acquired 157,880 shares of Zymeworks stock in a transaction dated Thursday, January 2nd. The shares were bought at an average cost of $14.78 per share, for a total transaction of $2,333,466.40. Following the completion of the purchase, the director now directly owns 15,185,959 shares of the company’s stock, valued at approximately $224,448,474.02. The trade was a 1.05 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, December 30th, Ecor1 Capital, Llc bought 58,988 shares of Zymeworks stock. The shares were bought at an average price of $14.47 per share, with a total value of $853,556.36.
• On Tuesday, December 24th, Ecor1 Capital, Llc purchased 11,958 shares of Zymeworks stock. The stock was bought at an average cost of $14.12 per share, for a total transaction 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 cost of $14.38 per share, with a total value of $240,030.96.

Zymeworks Stock Up 1.6 %

NYSE ZYME opened at $15.01 on Friday. The stock’s 50 day moving average is $14.43 and its 200 day moving average is $12.25. The firm has a market capitalization of $1.03 billion, a PE ratio of -10.01 and a beta of 1.12. Zymeworks Inc. has a twelve month low of $7.97 and a twelve month high of $17.70.

Zymeworks (NYSE:ZYME) last released its earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.01. The firm had revenue of $16.00 million for the quarter, compared to the consensus estimate of $17.90 million. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. During the same period in the prior year, the firm earned ($0.41) EPS. The company’s revenue was down 3.1% compared to the same quarter last year. On average, research analysts anticipate that Zymeworks Inc. will post -1.43 earnings per share for the current year.

Hedge Funds Weigh In On Zymeworks

Institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Asset Management L.P. purchased a new stake in shares of Zymeworks in the 2nd quarter worth approximately $1,683,000. Rubric Capital Management LP grew its stake in shares of Zymeworks by 12.7% in the second quarter. Rubric Capital Management LP now owns 3,917,331 shares of the company’s stock worth $33,336,000 after acquiring an additional 441,947 shares during the last quarter. State Street Corp increased its holdings in shares of Zymeworks by 6.1% during the third quarter. State Street Corp now owns 1,171,777 shares of the company’s stock valued at $14,706,000 after acquiring an additional 67,401 shares in the last quarter. Barclays PLC raised its position in shares of Zymeworks by 476.3% in the 3rd quarter. Barclays PLC now owns 154,384 shares of the company’s stock worth $1,937,000 after purchasing an additional 127,595 shares during the last quarter. Finally, Vestal Point Capital LP boosted its stake in Zymeworks by 39.8% in the 3rd quarter. Vestal Point Capital LP now owns 615,000 shares of the company’s stock worth $7,718,000 after purchasing an additional 175,000 shares in the last quarter. Institutional investors own 92.89% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ZYME shares. JPMorgan Chase & Co. raised shares of 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. 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. Leerink Partners upgraded Zymeworks from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $10.00 to $25.00 in a report on Thursday, November 7th. HC Wainwright reissued a “neutral” rating and set a $12.00 target price on shares of Zymeworks in a research note on Friday, November 22nd. Finally, Leerink Partnrs raised Zymeworks from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.17.

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.