Insider Buying: Zymeworks Inc. (NYSE:ZYME) Director Acquires 157,880 Shares of Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc bought 157,880 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were acquired at an average price of $14.78 per share, for a total transaction of $2,333,466.40. Following the acquisition, the director now directly owns 15,185,959 shares of the company’s stock, valued at approximately $224,448,474.02. The trade was a 1.05 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Monday, December 30th, Ecor1 Capital, Llc acquired 58,988 shares of Zymeworks stock. The shares were bought at an average cost of $14.47 per share, for a total transaction of $853,556.36.
• On Tuesday, December 24th, Ecor1 Capital, Llc bought 11,958 shares of Zymeworks stock. The stock was bought at an average cost of $14.12 per share, with a total value of $168,846.96.
• On Thursday, December 26th, Ecor1 Capital, Llc purchased 16,692 shares of Zymeworks stock. The shares were bought at an average cost of $14.38 per share, for a total transaction of $240,030.96.

Zymeworks Trading Up 1.6 %

Shares of ZYME opened at $15.01 on Friday. The stock has a market cap of $1.03 billion, a P/E ratio of -10.01 and a beta of 1.12. The stock’s 50-day moving average price is $14.43 and its two-hundred day moving average price is $12.23. Zymeworks Inc. has a 1 year low of $7.97 and a 1 year high of $17.70.

Zymeworks (NYSE:ZYME) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.01. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The firm had revenue of $16.00 million during the quarter, compared to analysts’ expectations of $17.90 million. During the same quarter in the previous year, the company earned ($0.41) earnings per share. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. As a group, equities analysts forecast that Zymeworks Inc. will post -1.43 EPS for the current year.

Analyst Ratings Changes

ZYME has been the topic of several research reports. Citigroup upped their price objective on Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Leerink Partners raised Zymeworks from a “market perform” rating to an “outperform” rating and upped their price target for the company from $10.00 to $25.00 in a research note on Thursday, November 7th. HC Wainwright reiterated a “neutral” rating and issued a $12.00 price objective on shares of Zymeworks in a research report on Friday, November 22nd. Leerink Partnrs upgraded shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company lifted their price target on shares of 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, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.17.

Institutional Trading of Zymeworks

Large investors have recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new position in Zymeworks during the second quarter worth about $1,683,000. Rubric Capital Management LP lifted its holdings in shares of Zymeworks by 12.7% during the 2nd quarter. Rubric Capital Management LP now owns 3,917,331 shares of the company’s stock valued at $33,336,000 after purchasing an additional 441,947 shares in the last quarter. State Street Corp lifted its stake in Zymeworks by 6.1% in 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 in the last quarter. Barclays PLC increased its position in shares of Zymeworks by 476.3% during the third quarter. Barclays PLC now owns 154,384 shares of the company’s stock worth $1,937,000 after acquiring an additional 127,595 shares in the last quarter. Finally, Vestal Point Capital LP raised 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 worth $7,718,000 after acquiring an additional 175,000 shares during the period. Institutional investors own 92.89% of the company’s stock.

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.