Ecor1 Capital, Llc Purchases 157,880 Shares of Zymeworks Inc. (NYSE:ZYME) Stock

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

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

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

Zymeworks Stock Performance

Zymeworks stock traded up $0.14 during trading hours on Thursday, hitting $14.78. The company had a trading volume of 496,625 shares, compared to its average volume of 608,278. The firm has a market cap of $1.02 billion, a P/E ratio of -9.85 and a beta of 1.12. The company has a 50-day moving average price of $14.36 and a two-hundred day moving average price of $12.17. Zymeworks Inc. has a 1 year low of $7.97 and a 1 year high of $17.70.

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, beating analysts’ consensus estimates of ($0.40) by $0.01. The firm had revenue of $16.00 million during the quarter, compared to analyst estimates of $17.90 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. Zymeworks’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.41) earnings per share. As a group, equities research analysts anticipate that Zymeworks Inc. will post -1.43 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ZYME shares. Wells Fargo & Company increased their target price on shares of Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. HC Wainwright reissued a “neutral” rating and issued a $12.00 price objective on shares of Zymeworks in a research note on Friday, November 22nd. Stifel Nicolaus boosted their target price on Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Leerink Partnrs upgraded Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Finally, Leerink Partners raised Zymeworks from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $10.00 to $25.00 in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.17.

Hedge Funds Weigh In On Zymeworks

Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC boosted its stake 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 purchasing an additional 1,525 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Zymeworks during the third quarter worth $47,000. nVerses Capital LLC bought a new stake in Zymeworks during the 3rd quarter valued at $79,000. Quest Partners LLC increased 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 valued at $78,000 after acquiring an additional 9,096 shares during the period. Finally, MQS Management LLC bought a new position in shares of Zymeworks in the 2nd quarter worth $92,000. 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.