Ecor1 Capital, Llc Buys 43,848 Shares of Zymeworks Inc. (NYSE:ZYME) Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc acquired 43,848 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The stock was acquired at an average cost of $12.24 per share, with a total value of $536,699.52. Following the completion of the acquisition, the director now directly owns 17,255,151 shares in the company, valued at approximately $211,203,048.24. This represents a 0.25 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, March 24th, Ecor1 Capital, Llc purchased 22,689 shares of Zymeworks stock. The shares were acquired at an average price of $13.08 per share, with a total value of $296,772.12.
• On Friday, March 21st, Ecor1 Capital, Llc acquired 31,033 shares of Zymeworks stock. The shares were bought at an average price of $12.78 per share, for a total transaction of $396,601.74.
• On Wednesday, March 19th, Ecor1 Capital, Llc bought 58,306 shares of Zymeworks stock. The stock was bought at an average price of $12.64 per share, with a total value of $736,987.84.
• On Monday, March 17th, Ecor1 Capital, Llc purchased 56,277 shares of Zymeworks stock. The shares were bought at an average price of $12.23 per share, for a total transaction of $688,267.71.
• On Thursday, March 13th, Ecor1 Capital, Llc acquired 468,356 shares of Zymeworks stock. The stock was bought at an average price of $12.48 per share, with a total value of $5,845,082.88.
• On Tuesday, March 11th, Ecor1 Capital, Llc bought 320,690 shares of Zymeworks stock. The shares were purchased at an average cost of $11.49 per share, for a total transaction of $3,684,728.10.
• On Friday, January 17th, Ecor1 Capital, Llc purchased 19,748 shares of Zymeworks stock. The shares were purchased at an average cost of $13.87 per share, with a total value of $273,904.76.
• On Wednesday, January 15th, Ecor1 Capital, Llc acquired 39,029 shares of Zymeworks stock. The stock was purchased at an average cost of $14.01 per share, for a total transaction of $546,796.29.
• On Monday, January 13th, Ecor1 Capital, Llc bought 74,125 shares of Zymeworks stock. The shares were purchased at an average cost of $13.39 per share, with a total value of $992,533.75.
• On Friday, January 10th, Ecor1 Capital, Llc purchased 204,098 shares of Zymeworks stock. The stock was acquired at an average price of $13.13 per share, for a total transaction of $2,679,806.74.

Zymeworks Stock Down 1.1 %

Shares of NYSE:ZYME opened at $12.37 on Friday. The company has a market cap of $860.67 million, a P/E ratio of -8.25 and a beta of 1.13. The company’s fifty day moving average is $13.60 and its two-hundred day moving average is $13.72. Zymeworks Inc. has a 12-month low of $7.97 and a 12-month high of $17.70.

Institutional Investors Weigh In On Zymeworks

Hedge funds have recently bought and sold shares of the business. Intech Investment Management LLC acquired a new position in shares of Zymeworks in the 3rd quarter valued at about $266,000. Charles Schwab Investment Management Inc. increased its stake in Zymeworks by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 132,798 shares of the company’s stock valued at $1,667,000 after buying an additional 650 shares during the period. FMR LLC lifted its position in Zymeworks by 84.2% in the 3rd quarter. FMR LLC now owns 3,336 shares of the company’s stock worth $42,000 after buying an additional 1,525 shares in the last quarter. Vestal Point Capital LP grew its holdings in shares of Zymeworks by 39.8% during the 3rd quarter. Vestal Point Capital LP now owns 615,000 shares of the company’s stock valued at $7,718,000 after acquiring an additional 175,000 shares in the last quarter. Finally, Stifel Financial Corp increased its stake in shares of Zymeworks by 2.1% in the third quarter. Stifel Financial Corp now owns 73,654 shares of the company’s stock worth $924,000 after acquiring an additional 1,540 shares during the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. HC Wainwright lifted their price objective on shares of Zymeworks from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Monday, March 10th. Citigroup lifted their price target on shares of Zymeworks from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. JPMorgan Chase & Co. upgraded Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price objective for the company in a research report on Monday, December 16th. Lifesci Capital assumed coverage on Zymeworks in a report on Tuesday, March 11th. They issued an “outperform” rating and a $30.00 target price on the stock. Finally, Wells Fargo & Company boosted their target price on Zymeworks from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Zymeworks has an average rating of “Moderate Buy” and a consensus price target of $21.00.

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.