Ecor1 Capital, Llc Purchases 49,502 Shares of Zymeworks Inc. (NYSE:ZYME) Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc purchased 49,502 shares of the company’s stock in a transaction on Thursday, May 15th. The stock was acquired at an average price of $11.43 per share, with a total value of $565,807.86. Following the purchase, the director now owns 17,877,989 shares of the company’s stock, valued at approximately $204,345,414.27. This represents a 0.28% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Monday, May 19th, Ecor1 Capital, Llc purchased 5,919 shares of Zymeworks stock. The stock was acquired at an average price of $11.78 per share, with a total value of $69,725.82.
• On Wednesday, April 16th, Ecor1 Capital, Llc purchased 73,953 shares of Zymeworks stock. The stock was acquired at an average price of $11.16 per share, with a total value of $825,315.48.
• On Friday, April 4th, Ecor1 Capital, Llc purchased 196,438 shares of Zymeworks stock. The stock was acquired at an average price of $11.17 per share, with a total value of $2,194,212.46.
• On Wednesday, April 2nd, Ecor1 Capital, Llc bought 74,360 shares of Zymeworks stock. The shares were purchased at an average price of $11.85 per share, with a total value of $881,166.00.
• On Monday, March 31st, Ecor1 Capital, Llc bought 4,397 shares of Zymeworks stock. The shares were purchased at an average price 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 purchased at an average price of $12.24 per share, with a total value of $536,699.52.
• On Monday, March 24th, Ecor1 Capital, Llc bought 22,689 shares of Zymeworks stock. The shares were purchased at an average price of $13.08 per share, with a total value of $296,772.12.
• On Friday, March 21st, Ecor1 Capital, Llc bought 31,033 shares of Zymeworks stock. The shares were purchased at an average price 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 shares were purchased at an average price of $12.64 per share, with a total value of $736,987.84.
• On Monday, March 17th, Ecor1 Capital, Llc bought 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.

Zymeworks Stock Performance

Shares of NYSE:ZYME opened at $12.43 on Wednesday. The company has a 50-day simple moving average of $11.80 and a 200-day simple moving average of $13.37. Zymeworks Inc. has a one year low of $8.21 and a one year high of $17.70. The stock has a market capitalization of $864.84 million, a price-to-earnings ratio of -8.29 and a beta of 1.24.

Zymeworks (NYSE:ZYME) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.15. The firm had revenue of $27.11 million during the quarter, compared to analysts’ expectations of $20.65 million. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The firm’s revenue for the quarter was up 170.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.42) earnings per share. As a group, research analysts forecast that Zymeworks Inc. will post -1.39 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on ZYME shares. Citigroup upped their price objective on shares of Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, March 7th. TD Cowen started coverage on shares of Zymeworks in a research note on Tuesday. They issued a “buy” rating for the company. Lifesci Capital started coverage on shares of Zymeworks in a research note on Tuesday, March 11th. They issued an “outperform” rating and a $30.00 price objective for the company. TD Securities started coverage on shares of Zymeworks in a research note on Tuesday. They issued a “buy” rating for the company. Finally, HC Wainwright upped their price objective on shares of Zymeworks from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Zymeworks has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Barclays PLC raised its holdings in 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 purchasing an additional 127,595 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Zymeworks by 93.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 642,251 shares of the company’s stock worth $9,403,000 after purchasing an additional 311,107 shares in the last quarter. MetLife Investment Management LLC raised its holdings in Zymeworks by 6.4% during the fourth quarter. MetLife Investment Management LLC now owns 33,946 shares of the company’s stock worth $497,000 after purchasing an additional 2,053 shares in the last quarter. Rhumbline Advisers raised its holdings in Zymeworks by 18.1% during the fourth quarter. Rhumbline Advisers now owns 103,876 shares of the company’s stock worth $1,521,000 after purchasing an additional 15,920 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Zymeworks during the fourth quarter worth about $888,000. 92.89% of the stock is owned by hedge funds and other institutional investors.

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.