Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc Buys 320,690 Shares

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc acquired 320,690 shares of Zymeworks stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average cost of $11.49 per share, with a total value of $3,684,728.10. Following the completion of the acquisition, the director now directly owns 16,040,851 shares in the company, valued at $184,309,377.99. This trade represents a 2.04 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Thursday, March 13th, Ecor1 Capital, Llc purchased 468,356 shares of Zymeworks stock. The stock was acquired at an average cost of $12.48 per share, with a total value of $5,845,082.88.
• On Friday, January 17th, Ecor1 Capital, Llc acquired 19,748 shares of Zymeworks stock. The shares were bought at an average cost of $13.87 per share, for a total transaction of $273,904.76.
• On Wednesday, January 15th, Ecor1 Capital, Llc acquired 39,029 shares of Zymeworks stock. The stock was bought at an average price of $14.01 per share, for a total transaction of $546,796.29.
• On Monday, January 13th, Ecor1 Capital, Llc purchased 74,125 shares of Zymeworks stock. The stock was bought at an average cost of $13.39 per share, for a total transaction of $992,533.75.
• On Friday, January 10th, Ecor1 Capital, Llc purchased 204,098 shares of Zymeworks stock. The stock was bought at an average price of $13.13 per share, for a total transaction of $2,679,806.74.
• On Wednesday, January 8th, Ecor1 Capital, Llc acquired 21,021 shares of Zymeworks stock. The shares were bought at an average cost of $14.07 per share, with a total value of $295,765.47.
• On Thursday, January 2nd, Ecor1 Capital, Llc bought 157,880 shares of Zymeworks stock. The stock was purchased at an average cost of $14.78 per share, for a total transaction of $2,333,466.40.
• On Monday, December 30th, Ecor1 Capital, Llc purchased 58,988 shares of Zymeworks stock. The shares were purchased at an average cost of $14.47 per share, with a total value of $853,556.36.
• On Tuesday, December 24th, Ecor1 Capital, Llc acquired 11,958 shares of Zymeworks stock. The shares were purchased at an average cost of $14.12 per share, for a total transaction of $168,846.96.
• On Thursday, December 26th, Ecor1 Capital, Llc bought 16,692 shares of Zymeworks stock. The stock was purchased at an average price of $14.38 per share, with a total value of $240,030.96.

Zymeworks Stock Up 2.2 %

Shares of ZYME stock opened at $12.55 on Friday. The firm has a market cap of $873.19 million, a price-to-earnings ratio of -8.37 and a beta of 1.13. Zymeworks Inc. has a 12 month low of $7.97 and a 12 month high of $17.70. The stock has a 50-day moving average price of $13.96 and a 200 day moving average price of $13.65.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Sterling Capital Management LLC lifted its holdings in Zymeworks by 781.5% in the fourth quarter. Sterling Capital Management LLC now owns 1,719 shares of the company’s stock valued at $25,000 after buying an additional 1,524 shares during the period. AlphaQuest LLC raised its position in shares of Zymeworks by 480.2% during the 4th quarter. AlphaQuest LLC now owns 2,808 shares of the company’s stock valued at $41,000 after acquiring an additional 2,324 shares during the last quarter. FMR LLC lifted its stake in shares of 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. BNP Paribas Financial Markets bought a new position in shares of Zymeworks in the 4th quarter worth $108,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Zymeworks by 343.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,704 shares of the company’s stock worth $142,000 after purchasing an additional 7,518 shares during the period. Institutional investors own 92.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. HC Wainwright raised their price target on Zymeworks from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Monday. 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 research note on Monday, December 16th. Lifesci Capital began coverage on shares of Zymeworks in a research report on Tuesday. They set an “outperform” rating and a $30.00 price target on the stock. Wells Fargo & Company increased their price objective on shares of Zymeworks from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. Finally, Citigroup boosted their target price on shares of Zymeworks from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.