Insider Buying: Zymeworks Inc. (NYSE:ZYME) Director Buys $881,166.00 in Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc bought 74,360 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were acquired at an average cost of $11.85 per share, for a total transaction of $881,166.00. Following the purchase, the director now directly owns 17,382,566 shares in the company, valued at $205,983,407.10. This trade represents a 0.43 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, March 31st, Ecor1 Capital, Llc acquired 4,397 shares of Zymeworks stock. The shares were bought at an average cost of $11.75 per share, with a total value of $51,664.75.
• On Wednesday, March 26th, Ecor1 Capital, Llc bought 43,848 shares of Zymeworks stock. The shares were bought at an average price of $12.24 per share, with a total value of $536,699.52.
• On Monday, March 24th, Ecor1 Capital, Llc purchased 22,689 shares of Zymeworks stock. The stock was bought at an average price of $13.08 per share, for a total transaction 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 cost of $12.78 per share, with a total value of $396,601.74.
• On Wednesday, March 19th, Ecor1 Capital, Llc bought 58,306 shares of Zymeworks stock. The stock was purchased at an average price of $12.64 per share, for a total transaction of $736,987.84.
• On Monday, March 17th, Ecor1 Capital, Llc purchased 56,277 shares of Zymeworks stock. The shares were purchased at an average price of $12.23 per share, with a total value of $688,267.71.
• On Thursday, March 13th, Ecor1 Capital, Llc acquired 468,356 shares of Zymeworks stock. The shares were purchased at an average cost of $12.48 per share, for a total transaction of $5,845,082.88.
• On Tuesday, March 11th, Ecor1 Capital, Llc purchased 320,690 shares of Zymeworks stock. The stock was acquired 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 acquired 19,748 shares of Zymeworks stock. The stock was acquired at an average cost of $13.87 per share, with a total value of $273,904.76.
• On Wednesday, January 15th, Ecor1 Capital, Llc bought 39,029 shares of Zymeworks stock. The shares were acquired at an average price of $14.01 per share, for a total transaction of $546,796.29.

Zymeworks Price Performance

ZYME stock opened at $10.95 on Friday. Zymeworks Inc. has a 12 month low of $7.97 and a 12 month high of $17.70. The firm’s 50-day moving average is $13.31 and its 200 day moving average is $13.69. The company has a market capitalization of $761.87 million, a PE ratio of -7.30 and a beta of 1.18.

Wall Street Analysts Forecast Growth

ZYME has been the topic of several analyst reports. JPMorgan Chase & Co. raised Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price objective on the stock in a research note on Monday, December 16th. Citigroup boosted their target price on Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, March 7th. HC Wainwright raised their price target on Zymeworks from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Monday, March 10th. Lifesci Capital assumed coverage on shares of Zymeworks in a research report on Tuesday, March 11th. They set an “outperform” rating and a $30.00 price objective on the stock. Finally, Wells Fargo & Company raised their target price 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. 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. Based on data from MarketBeat, Zymeworks currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Institutional Trading of Zymeworks

Institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC increased its holdings in Zymeworks by 476.3% during the 3rd quarter. Barclays PLC now owns 154,384 shares of the company’s stock worth $1,937,000 after purchasing an additional 127,595 shares during the period. State Street Corp increased its stake in shares of Zymeworks by 6.1% during the third quarter. State Street Corp now owns 1,171,777 shares of the company’s stock valued at $14,706,000 after buying an additional 67,401 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Zymeworks by 93.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 642,251 shares of the company’s stock valued at $9,403,000 after acquiring an additional 311,107 shares in the last quarter. FMR LLC lifted its stake in Zymeworks by 84.2% in the third quarter. FMR LLC now owns 3,336 shares of the company’s stock worth $42,000 after acquiring an additional 1,525 shares during the period. Finally, Stifel Financial Corp grew its holdings in Zymeworks by 2.1% during the 3rd quarter. Stifel Financial Corp now owns 73,654 shares of the company’s stock worth $924,000 after acquiring an additional 1,540 shares in the last quarter. Institutional investors 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.