Insider Buying: Zymeworks Inc. (NYSE:ZYME) Director Purchases 320,690 Shares of Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc purchased 320,690 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was bought at an average cost of $11.49 per share, with a total value of $3,684,728.10. Following the completion of the acquisition, the director now directly owns 16,040,851 shares of the company’s stock, valued at approximately $184,309,377.99. This trade represents a 2.04 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link.

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

• On Thursday, March 13th, Ecor1 Capital, Llc acquired 468,356 shares of Zymeworks stock. The shares were acquired at an average cost of $12.48 per share, with a total value of $5,845,082.88.
• On Friday, January 17th, Ecor1 Capital, Llc acquired 19,748 shares of Zymeworks stock. The shares were acquired at an average cost of $13.87 per share, with a total value 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 cost of $14.01 per share, with a total value 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 cost of $13.39 per share, with a total value of $992,533.75.
• On Friday, January 10th, Ecor1 Capital, Llc purchased 204,098 shares of Zymeworks stock. The shares were purchased at an average cost of $13.13 per share, with a total value of $2,679,806.74.
• On Wednesday, January 8th, Ecor1 Capital, Llc purchased 21,021 shares of Zymeworks stock. The shares were purchased at an average cost of $14.07 per share, with a total value of $295,765.47.
• On Thursday, January 2nd, Ecor1 Capital, Llc purchased 157,880 shares of Zymeworks stock. The shares were purchased at an average cost of $14.78 per share, with a total value of $2,333,466.40.
• On Monday, December 30th, Ecor1 Capital, Llc purchased 58,988 shares of Zymeworks stock. The shares were purchased at an average cost of $14.47 per share, with a total value of $853,556.36.
• On Tuesday, December 24th, Ecor1 Capital, Llc acquired 11,958 shares of Zymeworks stock. The stock was 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 stock was bought at an average price of $14.38 per share, for a total transaction of $240,030.96.

Zymeworks Stock Down 2.4 %

Shares of ZYME opened at $12.25 on Friday. The business’s 50 day moving average price is $13.86 and its 200-day moving average price is $13.66. Zymeworks Inc. has a 52 week low of $7.97 and a 52 week high of $17.70. The stock has a market cap of $852.32 million, a P/E ratio of -8.17 and a beta of 1.13.

Analysts Set New Price Targets

ZYME has been the topic of several analyst reports. Lifesci Capital initiated coverage on Zymeworks in a report on Tuesday, March 11th. They issued an “outperform” rating and a $30.00 price objective on the stock. HC Wainwright boosted their price target on Zymeworks from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Monday, March 10th. Citigroup boosted their price target on Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a report on Friday, March 7th. JPMorgan Chase & Co. upgraded Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price target on the stock in a report on Monday, December 16th. Finally, Wells Fargo & Company boosted their price target on Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Institutional Trading of Zymeworks

A number of hedge funds have recently made changes to their positions in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Zymeworks by 0.8% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,945,491 shares of the company’s stock valued at $24,416,000 after acquiring an additional 14,604 shares in the last quarter. Deutsche Bank AG lifted its position in Zymeworks by 1.2% in the 4th quarter. Deutsche Bank AG now owns 1,546,772 shares of the company’s stock valued at $22,645,000 after acquiring an additional 17,849 shares in the last quarter. State Street Corp lifted its position in Zymeworks by 6.1% in the 3rd quarter. State Street Corp now owns 1,171,777 shares of the company’s stock valued at $14,706,000 after acquiring an additional 67,401 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Zymeworks by 14.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 972,742 shares of the company’s stock valued at $14,240,000 after acquiring an additional 123,240 shares in the last quarter. Finally, Bridgeway Capital Management LLC lifted its position in Zymeworks by 2.3% in the 4th quarter. Bridgeway Capital Management LLC now owns 759,653 shares of the company’s stock valued at $11,121,000 after acquiring an additional 17,092 shares in the last quarter. 92.89% of the stock is owned by institutional investors.

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.