Ecor1 Capital, Llc Acquires 58,306 Shares of Zymeworks Inc. (NYSE:ZYME) Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc acquired 58,306 shares of the stock in a transaction on Wednesday, March 19th. The shares were bought at an average price of $12.64 per share, for a total transaction of $736,987.84. Following the purchase, the director now owns 17,030,604 shares in the company, valued at approximately $215,266,834.56. This trade represents a 0.34 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Monday, March 17th, Ecor1 Capital, Llc bought 56,277 shares of Zymeworks stock. The shares were bought at an average cost of $12.23 per share, for a total transaction of $688,267.71.
• On Thursday, March 13th, Ecor1 Capital, Llc purchased 468,356 shares of Zymeworks stock. The stock was bought at an average cost of $12.48 per share, with a total value of $5,845,082.88.
• On Tuesday, March 11th, Ecor1 Capital, Llc acquired 320,690 shares of Zymeworks stock. The shares were purchased at an average price of $11.49 per share, for a total transaction of $3,684,728.10.
• On Friday, January 17th, Ecor1 Capital, Llc bought 19,748 shares of Zymeworks stock. The stock was purchased at an average price of $13.87 per share, with a total value of $273,904.76.
• On Wednesday, January 15th, Ecor1 Capital, Llc purchased 39,029 shares of Zymeworks stock. The shares were purchased at an average price of $14.01 per share, for a total transaction of $546,796.29.
• On Monday, January 13th, Ecor1 Capital, Llc acquired 74,125 shares of Zymeworks stock. The shares were purchased 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 stock was acquired at an average cost of $13.13 per share, for a total transaction of $2,679,806.74.
• On Wednesday, January 8th, Ecor1 Capital, Llc purchased 21,021 shares of Zymeworks stock. The stock was acquired 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 acquired 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 bought 58,988 shares of Zymeworks stock. The shares were acquired at an average cost of $14.47 per share, with a total value of $853,556.36.

Zymeworks Stock Up 1.1 %

NYSE ZYME opened at $12.93 on Friday. The company has a market capitalization of $899.63 million, a price-to-earnings ratio of -8.62 and a beta of 1.13. Zymeworks Inc. has a twelve month low of $7.97 and a twelve month high of $17.70. The stock has a fifty day simple moving average of $13.73 and a 200 day simple moving average of $13.67.

Wall Street Analyst Weigh In

ZYME has been the topic of several research reports. Lifesci Capital assumed coverage on shares of Zymeworks in a report on Tuesday, March 11th. They set an “outperform” rating and a $30.00 price target on the stock. 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. JPMorgan Chase & Co. upgraded Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price target for the company in a research note on Monday, December 16th. HC Wainwright raised their price objective on Zymeworks from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Monday, March 10th. Finally, Wells Fargo & Company upped their target price on Zymeworks from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Zymeworks presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

Institutional Investors Weigh In On Zymeworks

Several institutional investors and hedge funds have recently made changes to their positions in ZYME. Charles Schwab Investment Management Inc. lifted its stake in shares of Zymeworks by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 132,798 shares of the company’s stock worth $1,667,000 after acquiring an additional 650 shares during the period. Nuveen Asset Management LLC lifted its position in shares of Zymeworks by 0.4% in the 4th quarter. Nuveen Asset Management LLC now owns 207,023 shares of the company’s stock worth $3,031,000 after purchasing an additional 886 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in shares of Zymeworks by 6.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,605 shares of the company’s stock valued at $214,000 after purchasing an additional 940 shares during the last quarter. Sterling Capital Management LLC increased its position in shares of Zymeworks by 781.5% during 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. Finally, FMR LLC raised its stake in Zymeworks by 84.2% during the third quarter. FMR LLC now owns 3,336 shares of the company’s stock worth $42,000 after buying an additional 1,525 shares during the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

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.