Ecor1 Capital, Llc Buys 58,306 Shares of Zymeworks Inc. (NYSE:ZYME) Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc purchased 58,306 shares of the stock in a transaction on Wednesday, March 19th. The shares were bought at an average price of $12.64 per share, for a total transaction of $736,987.84. Following the acquisition, the director now owns 17,030,604 shares of the company’s stock, valued at approximately $215,266,834.56. The trade was a 0.34 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Monday, March 17th, Ecor1 Capital, Llc purchased 56,277 shares of Zymeworks stock. The shares were bought at an average price of $12.23 per share, for a total transaction of $688,267.71.
• On Thursday, March 13th, Ecor1 Capital, Llc purchased 468,356 shares of Zymeworks stock. The shares were bought 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 bought at an average price of $11.49 per share, for a total transaction of $3,684,728.10.
• On Friday, January 17th, Ecor1 Capital, Llc purchased 19,748 shares of Zymeworks stock. The shares were bought at an average price of $13.87 per share, for a total transaction of $273,904.76.
• On Wednesday, January 15th, Ecor1 Capital, Llc purchased 39,029 shares of Zymeworks stock. The shares were bought at an average price of $14.01 per share, for a total transaction of $546,796.29.
• On Monday, January 13th, Ecor1 Capital, Llc purchased 74,125 shares of Zymeworks stock. The shares were bought at an average price 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 stock was bought at an average price of $13.13 per share, for a total transaction of $2,679,806.74.
• On Wednesday, January 8th, Ecor1 Capital, Llc acquired 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.
• On Thursday, January 2nd, Ecor1 Capital, Llc acquired 157,880 shares of Zymeworks stock. The stock was bought at an average price of $14.78 per share, for a total transaction of $2,333,466.40.
• On Monday, December 30th, Ecor1 Capital, Llc acquired 58,988 shares of Zymeworks stock. The stock was bought at an average price of $14.47 per share, for a total transaction of $853,556.36.

Zymeworks Stock Performance

Shares of NYSE ZYME opened at $12.72 on Friday. The stock has a market cap of $885.02 million, a PE ratio of -8.48 and a beta of 1.13. The business has a fifty day moving average of $13.72 and a two-hundred day moving average of $13.68. Zymeworks Inc. has a 52-week low of $7.97 and a 52-week high of $17.70.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ZYME. Blackstone Inc. lifted its holdings in shares of Zymeworks by 2,171.4% during the fourth quarter. Blackstone Inc. now owns 569,715 shares of the company’s stock valued at $8,341,000 after acquiring an additional 544,633 shares during the period. Walleye Capital LLC bought a new position in shares of Zymeworks during the fourth quarter valued at $6,629,000. Schroder Investment Management Group bought a new position in shares of Zymeworks during the fourth quarter valued at $4,892,000. Assenagon Asset Management S.A. raised its holdings in shares of Zymeworks by 93.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 642,251 shares of the company’s stock valued at $9,403,000 after buying an additional 311,107 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in shares of Zymeworks by 565.8% in the fourth quarter. Point72 Asset Management L.P. now owns 330,127 shares of the company’s stock valued at $4,833,000 after buying an additional 280,544 shares during the last quarter. 92.89% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Lifesci Capital assumed coverage on shares of Zymeworks in a research note on Tuesday, March 11th. They issued an “outperform” rating and a $30.00 price objective on the stock. Wells Fargo & Company raised their price objective on shares of Zymeworks from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 19th. Citigroup lifted their price target on shares of Zymeworks from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. JPMorgan Chase & Co. upgraded 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. Finally, HC Wainwright lifted their price target 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 investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.00.

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.