Insider Buying: Zymeworks Inc. (NYSE:ZYME) Director Buys $2,679,806.74 in Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc acquired 204,098 shares of the business’s stock in a transaction on Friday, January 10th. The shares were purchased at an average cost of $13.13 per share, for a total transaction of $2,679,806.74. Following the completion of the acquisition, the director now directly owns 15,411,078 shares in the company, valued at approximately $202,347,454.14. The trade was a 1.34 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, January 8th, Ecor1 Capital, Llc purchased 21,021 shares of Zymeworks stock. The shares were purchased 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 purchased at an average price of $14.78 per share, with a total value of $2,333,466.40.
• On Monday, December 30th, Ecor1 Capital, Llc bought 58,988 shares of Zymeworks stock. The stock was 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 shares were acquired at an average cost 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 stock was acquired at an average cost of $14.38 per share, for a total transaction of $240,030.96.

Zymeworks Trading Down 6.4 %

Shares of ZYME stock opened at $13.22 on Friday. The firm’s 50 day moving average is $14.48 and its 200 day moving average is $12.45. The stock has a market capitalization of $910.57 million, a P/E ratio of -8.81 and a beta of 1.10. Zymeworks Inc. has a 12 month low of $7.97 and a 12 month high of $17.70.

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

Hedge Funds Weigh In On Zymeworks

A number of large investors have recently modified their holdings of the company. FMR LLC boosted its holdings in Zymeworks by 84.2% in the 3rd 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. DekaBank Deutsche Girozentrale bought a new stake in Zymeworks during the third quarter valued at $47,000. Quest Partners LLC boosted its stake in Zymeworks by 8,049.6% during the second quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock valued at $78,000 after buying an additional 9,096 shares during the period. nVerses Capital LLC bought a new position in Zymeworks in the 3rd quarter worth about $79,000. Finally, MQS Management LLC bought a new position in Zymeworks in the 2nd quarter worth about $92,000. 92.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ZYME has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted 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. HC Wainwright reaffirmed a “neutral” rating and issued a $12.00 price objective on shares of Zymeworks in a research report on Friday, November 22nd. Stifel Nicolaus boosted their target price on shares of Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Citigroup raised their price target on shares of Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. upgraded Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price objective on the stock in a research note on Monday, December 16th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.