Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc Acquires 468,356 Shares

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc bought 468,356 shares of the stock in a transaction on Thursday, March 13th. The shares were bought at an average price of $12.48 per share, for a total transaction of $5,845,082.88. Following the acquisition, the director now owns 16,802,141 shares in the company, valued at $209,690,719.68. The trade was a 2.87 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, March 11th, Ecor1 Capital, Llc acquired 320,690 shares of Zymeworks stock. The shares were acquired 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 acquired 19,748 shares of Zymeworks stock. The shares were acquired at an average price of $13.87 per share, for a total transaction of $273,904.76.
• On Wednesday, January 15th, Ecor1 Capital, Llc acquired 39,029 shares of Zymeworks stock. The shares were acquired at an average price of $14.01 per share, for a total transaction of $546,796.29.
• On Monday, January 13th, Ecor1 Capital, Llc acquired 74,125 shares of Zymeworks stock. The shares were acquired 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 shares were acquired 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 bought 21,021 shares of Zymeworks stock. The stock was purchased at an average cost of $14.07 per share, for a total transaction of $295,765.47.
• On Thursday, January 2nd, Ecor1 Capital, Llc bought 157,880 shares of Zymeworks stock. The stock was purchased 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 stock was purchased at an average cost of $14.47 per share, for a total transaction of $853,556.36.
• On Tuesday, December 24th, Ecor1 Capital, Llc bought 11,958 shares of Zymeworks stock. The stock was purchased at an average cost of $14.12 per share, for a total transaction of $168,846.96.
• On Thursday, December 26th, Ecor1 Capital, Llc bought 16,692 shares of Zymeworks stock. The stock was purchased at an average cost of $14.38 per share, for a total transaction of $240,030.96.

Zymeworks Stock Up 2.2 %

Shares of Zymeworks stock traded up $0.27 during trading hours on Thursday, hitting $12.55. 1,212,095 shares of the company’s stock traded hands, compared to its average volume of 480,756. The company has a market cap of $873.19 million, a PE ratio of -8.37 and a beta of 1.13. Zymeworks Inc. has a twelve month low of $7.97 and a twelve month high of $17.70. The stock has a 50 day simple moving average of $13.96 and a 200-day simple moving average of $13.65.

Analyst Upgrades and Downgrades

ZYME has been the topic of several research reports. Citigroup raised their price objective on Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, March 7th. JPMorgan Chase & Co. raised Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price objective on the stock in a research report on Monday, December 16th. Wells Fargo & Company raised their price objective on Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. HC Wainwright raised their price objective on Zymeworks from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Lifesci Capital assumed coverage on Zymeworks in a research report on Tuesday. They issued an “outperform” rating and a $30.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Hedge Funds Weigh In On Zymeworks

A number of hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its stake in Zymeworks by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 132,798 shares of the company’s stock worth $1,667,000 after purchasing an additional 650 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Zymeworks by 0.4% during the fourth quarter. Nuveen Asset Management LLC now owns 207,023 shares of the company’s stock valued at $3,031,000 after purchasing an additional 886 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Zymeworks by 6.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,605 shares of the company’s stock valued at $214,000 after purchasing an additional 940 shares during the last quarter. Sterling Capital Management LLC grew its holdings in shares of Zymeworks by 781.5% during the fourth quarter. Sterling Capital Management LLC now owns 1,719 shares of the company’s stock valued at $25,000 after purchasing an additional 1,524 shares during the last quarter. Finally, FMR LLC grew its holdings 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 during the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

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.