Insider Buying: Zymeworks Inc. (NYSE:ZYME) Director Buys 39,029 Shares of Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc bought 39,029 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were acquired at an average price of $14.01 per share, for a total transaction of $546,796.29. Following the transaction, the director now directly owns 15,578,732 shares in the company, valued at approximately $218,258,035.32. This represents a 0.25 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Monday, January 13th, Ecor1 Capital, Llc acquired 74,125 shares of Zymeworks stock. The shares were bought at an average price of $13.39 per share, with a total value of $992,533.75.
• On Friday, January 10th, Ecor1 Capital, Llc bought 204,098 shares of Zymeworks stock. The shares were bought 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 stock was bought at an average cost 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 shares were 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 purchased 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 purchased 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 stock was purchased at an average price of $14.38 per share, for a total transaction of $240,030.96.

Zymeworks Price Performance

Shares of NYSE ZYME opened at $13.99 on Friday. The company has a market capitalization of $963.63 million, a P/E ratio of -9.33 and a beta of 1.10. The company has a 50 day simple moving average of $14.36 and a 200-day simple moving average of $12.58. Zymeworks Inc. has a 1 year low of $7.97 and a 1 year high of $17.70.

Zymeworks (NYSE:ZYME) last posted its earnings results on Thursday, October 31st. The company reported ($0.39) EPS for the quarter, beating 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 company had revenue of $16.00 million for the quarter, compared to the consensus estimate of $17.90 million. During the same quarter in the previous year, the business earned ($0.41) earnings per share. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. As a group, research analysts expect that Zymeworks Inc. will post -1.39 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its position in shares of Zymeworks by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 132,798 shares of the company’s stock valued at $1,667,000 after acquiring an additional 650 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Zymeworks by 11.1% during the 2nd quarter. Arizona State Retirement System now owns 12,841 shares of the company’s stock worth $109,000 after purchasing an additional 1,285 shares during the period. FMR LLC increased 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 last quarter. Stifel Financial Corp raised its position in Zymeworks by 2.1% in the third quarter. Stifel Financial Corp now owns 73,654 shares of the company’s stock valued at $924,000 after purchasing an additional 1,540 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in Zymeworks by 13.2% during the second quarter. The Manufacturers Life Insurance Company now owns 22,695 shares of the company’s stock worth $193,000 after purchasing an additional 2,653 shares in the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ZYME shares. JPMorgan Chase & Co. raised shares of 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. Stifel Nicolaus increased their price objective on shares of Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a report on Monday, October 28th. Leerink Partners upgraded Zymeworks from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $10.00 to $25.00 in a report on Thursday, November 7th. HC Wainwright restated a “neutral” rating and issued a $12.00 price target on shares of Zymeworks in a research report on Friday, November 22nd. Finally, Leerink Partnrs upgraded Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Zymeworks has an average rating of “Moderate Buy” and an average price target 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.