Ecor1 Capital, Llc Purchases 49,502 Shares of Zymeworks Inc. (NYSE:ZYME) Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc acquired 49,502 shares of the firm’s stock in a transaction dated Thursday, May 15th. The shares were purchased at an average price of $11.43 per share, with a total value of $565,807.86. Following the acquisition, the director now owns 17,877,989 shares of the company’s stock, valued at approximately $204,345,414.27. This represents a 0.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, May 19th, Ecor1 Capital, Llc bought 5,919 shares of Zymeworks stock. The shares were purchased at an average cost of $11.78 per share, for a total transaction of $69,725.82.
• On Wednesday, April 16th, Ecor1 Capital, Llc purchased 73,953 shares of Zymeworks stock. The shares were bought at an average price of $11.16 per share, with a total value of $825,315.48.
• On Friday, April 4th, Ecor1 Capital, Llc bought 196,438 shares of Zymeworks stock. The shares were purchased at an average cost of $11.17 per share, for a total transaction of $2,194,212.46.
• On Wednesday, April 2nd, Ecor1 Capital, Llc acquired 74,360 shares of Zymeworks stock. The shares were purchased at an average cost of $11.85 per share, for a total transaction of $881,166.00.
• On Monday, March 31st, Ecor1 Capital, Llc purchased 4,397 shares of Zymeworks stock. The stock was bought at an average cost of $11.75 per share, for a total transaction of $51,664.75.
• On Wednesday, March 26th, Ecor1 Capital, Llc bought 43,848 shares of Zymeworks stock. The stock was purchased at an average cost of $12.24 per share, for a total transaction of $536,699.52.
• On Monday, March 24th, Ecor1 Capital, Llc bought 22,689 shares of Zymeworks stock. The shares were purchased at an average price of $13.08 per share, with a total value of $296,772.12.
• On Friday, March 21st, Ecor1 Capital, Llc bought 31,033 shares of Zymeworks stock. The stock was acquired at an average cost of $12.78 per share, for a total transaction of $396,601.74.
• On Wednesday, March 19th, Ecor1 Capital, Llc purchased 58,306 shares of Zymeworks stock. The shares were acquired at an average cost 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 shares were acquired at an average price of $12.23 per share, with a total value of $688,267.71.

Zymeworks Stock Up 0.9%

NYSE:ZYME traded up $0.11 during mid-day trading on Monday, hitting $11.82. 242,872 shares of the company traded hands, compared to its average volume of 598,736. The stock’s fifty day moving average price is $11.82 and its 200-day moving average price is $13.38. The firm has a market cap of $822.40 million, a price-to-earnings ratio of -7.88 and a beta of 1.24. Zymeworks Inc. has a one year low of $8.21 and a one year high of $17.70.

Zymeworks (NYSE:ZYME) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.15. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The business had revenue of $27.11 million during the quarter, compared to analyst estimates of $20.65 million. During the same period in the prior year, the business posted ($0.42) earnings per share. The company’s revenue was up 170.3% on a year-over-year basis. Equities analysts predict that Zymeworks Inc. will post -1.39 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on ZYME. Citigroup raised their price objective on Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, March 7th. Lifesci Capital began coverage on shares of Zymeworks in a research note on Tuesday, March 11th. They set an “outperform” rating and a $30.00 price objective on the stock. Finally, HC Wainwright raised their target price on shares of Zymeworks from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Zymeworks has an average rating of “Moderate Buy” and an average price target of $21.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ZYME. Sterling Capital Management LLC raised its holdings in shares of Zymeworks by 781.5% in the fourth quarter. Sterling Capital Management LLC now owns 1,719 shares of the company’s stock worth $25,000 after buying an additional 1,524 shares during the period. CWM LLC grew its holdings in shares of Zymeworks by 1,091.2% in the first quarter. CWM LLC now owns 2,299 shares of the company’s stock worth $27,000 after purchasing an additional 2,106 shares during the last quarter. AlphaQuest LLC increased its stake in Zymeworks by 480.2% in the 4th quarter. AlphaQuest LLC now owns 2,808 shares of the company’s stock worth $41,000 after buying an additional 2,324 shares during the period. GAMMA Investing LLC increased its stake in Zymeworks by 1,113.3% in the 1st quarter. GAMMA Investing LLC now owns 6,467 shares of the company’s stock worth $77,000 after buying an additional 5,934 shares during the period. Finally, BNP Paribas Financial Markets bought a new stake in Zymeworks during the 4th quarter valued at about $108,000. 92.89% of the stock is owned by hedge funds and other institutional investors.

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.