Insider Buying: Zymeworks Inc. (NYSE:ZYME) Director Buys 31,033 Shares of Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc purchased 31,033 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were bought at an average price of $12.78 per share, with a total value of $396,601.74. Following the acquisition, the director now directly owns 17,135,113 shares of the company’s stock, valued at $218,986,744.14. This represents a 0.18 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, March 24th, Ecor1 Capital, Llc bought 22,689 shares of Zymeworks stock. The stock was purchased at an average price of $13.08 per share, with a total value of $296,772.12.
• On Wednesday, March 19th, Ecor1 Capital, Llc purchased 58,306 shares of Zymeworks stock. The shares were purchased at an average cost of $12.64 per share, for a total transaction of $736,987.84.
• On Monday, March 17th, Ecor1 Capital, Llc acquired 56,277 shares of Zymeworks stock. The stock was 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 bought 468,356 shares of Zymeworks stock. The stock was acquired 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 purchased 320,690 shares of Zymeworks stock. The shares were acquired at an average cost of $11.49 per share, with a total value 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, for a total transaction 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 cost of $14.01 per share, with a total value of $546,796.29.
• On Monday, January 13th, Ecor1 Capital, Llc purchased 74,125 shares of Zymeworks stock. The stock was bought at an average cost of $13.39 per share, for a total transaction of $992,533.75.
• On Friday, January 10th, Ecor1 Capital, Llc acquired 204,098 shares of Zymeworks stock. The shares were bought at an average price of $13.13 per share, with a total value of $2,679,806.74.
• On Wednesday, January 8th, Ecor1 Capital, Llc bought 21,021 shares of Zymeworks stock. The stock was bought at an average price of $14.07 per share, for a total transaction of $295,765.47.

Zymeworks Stock Performance

Zymeworks stock traded up $0.33 during midday trading on Monday, hitting $13.05. 525,246 shares of the company’s stock were exchanged, compared to its average volume of 476,128. The company has a market cap of $907.98 million, a P/E ratio of -8.70 and a beta of 1.13. The stock has a 50-day moving average price of $13.71 and a two-hundred day moving average price of $13.72. Zymeworks Inc. has a 52-week low of $7.97 and a 52-week high of $17.70.

Wall Street Analyst Weigh In

ZYME has been the topic of several research analyst reports. JPMorgan Chase & Co. upgraded 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. Wells Fargo & Company increased their price target on Zymeworks from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 19th. Lifesci Capital began coverage on Zymeworks in a report on Tuesday, March 11th. They issued an “outperform” rating and a $30.00 price objective for the company. Citigroup upped their price objective on shares of Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a report on Friday, March 7th. Finally, HC Wainwright lifted their target price 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. 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, Zymeworks has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ZYME. Sterling Capital Management LLC grew its stake in Zymeworks by 781.5% in the 4th quarter. Sterling Capital Management LLC now owns 1,719 shares of the company’s stock worth $25,000 after buying an additional 1,524 shares in the last quarter. AlphaQuest LLC lifted its stake in Zymeworks by 480.2% during the fourth quarter. AlphaQuest LLC now owns 2,808 shares of the company’s stock worth $41,000 after purchasing an additional 2,324 shares during the last quarter. FMR LLC boosted its holdings in shares of Zymeworks by 84.2% in the 3rd quarter. FMR LLC now owns 3,336 shares of the company’s stock worth $42,000 after purchasing an additional 1,525 shares in the last quarter. BNP Paribas Financial Markets bought a new position in shares of Zymeworks during the 4th quarter valued at about $108,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Zymeworks by 343.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,704 shares of the company’s stock valued at $142,000 after buying an additional 7,518 shares in the last quarter. Hedge funds and other 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.