Ecor1 Capital, Llc Purchases 21,021 Shares of Zymeworks Inc. (NYSE:ZYME) Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc acquired 21,021 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was purchased at an average price of $14.07 per share, with a total value of $295,765.47. Following the transaction, the director now owns 15,206,980 shares of the company’s stock, valued at approximately $213,962,208.60. This trade represents a 0.14 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• 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, with a total value of $2,679,806.74.
• 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 price of $14.47 per share, for a total transaction of $853,556.36.
• On Tuesday, December 24th, Ecor1 Capital, Llc acquired 11,958 shares of Zymeworks stock. The shares were bought at an average price 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 price of $14.38 per share, with a total value of $240,030.96.

Zymeworks Trading Down 6.4 %

Zymeworks stock opened at $13.22 on Friday. The company has a 50-day moving average price of $14.48 and a 200 day moving average price of $12.39. Zymeworks Inc. has a 12-month low of $7.97 and a 12-month high of $17.70. The stock has a market cap of $910.57 million, a P/E ratio of -8.81 and a beta of 1.10.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share (EPS) for the quarter, topping 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 business had revenue of $16.00 million during the quarter, compared to the consensus estimate of $17.90 million. During the same quarter last year, the firm earned ($0.41) EPS. The business’s revenue was down 3.1% compared to the same quarter last year. As a group, analysts forecast that Zymeworks Inc. will post -1.43 EPS for the current year.

Hedge Funds Weigh In On Zymeworks

Large investors have recently modified their holdings of the business. FMR LLC lifted its position in Zymeworks by 84.2% in 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. DekaBank Deutsche Girozentrale purchased a new stake in shares of Zymeworks in the 3rd quarter valued at approximately $47,000. Quest Partners LLC lifted its holdings in shares of Zymeworks by 8,049.6% in the 2nd quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock worth $78,000 after acquiring an additional 9,096 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Zymeworks during the 3rd quarter worth approximately $79,000. Finally, MQS Management LLC purchased a new position in shares of Zymeworks during the 2nd quarter worth approximately $92,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

Analyst Upgrades and Downgrades

ZYME has been the subject of several research reports. Leerink Partners upgraded Zymeworks from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $10.00 to $25.00 in a research note on Thursday, November 7th. Leerink Partnrs upgraded Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Citigroup raised their price objective on Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a report on Monday, November 4th. HC Wainwright reaffirmed a “neutral” rating and set a $12.00 target price on shares of Zymeworks in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. raised shares of Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price target on the stock in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.17.

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.