Insider Buying: Zymeworks Inc. (NYSE:ZYME) Director Purchases 56,277 Shares of Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc purchased 56,277 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were purchased at an average price of $12.23 per share, for a total transaction of $688,267.71. Following the acquisition, the director now owns 16,858,418 shares of the company’s stock, valued at approximately $206,178,452.14. The trade was a 0.33 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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, for a total transaction of $736,987.84.
• On Thursday, March 13th, Ecor1 Capital, Llc bought 468,356 shares of Zymeworks stock. The stock was bought at an average price of $12.48 per share, for a total transaction of $5,845,082.88.
• On Tuesday, March 11th, Ecor1 Capital, Llc bought 320,690 shares of Zymeworks stock. The stock was bought 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 bought at an average price of $13.87 per share, for a total transaction of $273,904.76.
• On Wednesday, January 15th, Ecor1 Capital, Llc purchased 39,029 shares of Zymeworks stock. The stock was acquired 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 acquired at an average price 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 acquired 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 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 purchased 157,880 shares of Zymeworks stock. The stock was acquired at an average price 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 acquired at an average cost of $14.47 per share, for a total transaction of $853,556.36.

Zymeworks Stock Performance

NYSE ZYME traded up $0.45 during trading on Wednesday, hitting $12.79. The stock had a trading volume of 592,919 shares, compared to its average volume of 478,005. The stock has a market capitalization of $889.89 million, a price-to-earnings ratio of -8.53 and a beta of 1.13. Zymeworks Inc. has a one year low of $7.97 and a one year high of $17.70. The stock has a 50 day simple moving average of $13.76 and a 200 day simple moving average of $13.68.

Analyst Upgrades and Downgrades

ZYME has been the subject of a number of research analyst reports. HC Wainwright increased their price objective on shares of Zymeworks from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Monday, March 10th. Citigroup lifted their price objective 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 shares of Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 target price on the stock in a research report on Monday, December 16th. Lifesci Capital started coverage on shares of Zymeworks in a report on Tuesday, March 11th. They issued an “outperform” rating and a $30.00 price target for the company. Finally, Wells Fargo & Company upped their price objective on Zymeworks from $12.00 to $14.00 and gave the company 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $21.00.

Hedge Funds Weigh In On Zymeworks

A number of large investors have recently bought and sold shares of ZYME. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Zymeworks by 0.8% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,945,491 shares of the company’s stock worth $24,416,000 after purchasing an additional 14,604 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Zymeworks during the third quarter valued at $266,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Zymeworks by 0.5% during the third 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 last quarter. FMR LLC grew its holdings in shares of Zymeworks by 84.2% during the third quarter. FMR LLC now owns 3,336 shares of the company’s stock valued at $42,000 after buying an additional 1,525 shares during the last quarter. Finally, Vestal Point Capital LP grew its holdings in shares of Zymeworks by 39.8% during the third quarter. Vestal Point Capital LP now owns 615,000 shares of the company’s stock valued at $7,718,000 after buying an additional 175,000 shares during 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.