Insider Buying: Zymeworks Inc. (NYSE:ZYME) Director Buys 31,033 Shares of Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc bought 31,033 shares of Zymeworks stock in a transaction dated Friday, March 21st. The stock was acquired at an average price of $12.78 per share, for a total transaction of $396,601.74. Following the completion of the acquisition, the director now owns 17,135,113 shares in the company, valued at approximately $218,986,744.14. The trade was a 0.18 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Monday, March 24th, Ecor1 Capital, Llc acquired 22,689 shares of Zymeworks stock. The shares were bought at an average cost of $13.08 per share, for a total transaction of $296,772.12.
• On Wednesday, March 19th, Ecor1 Capital, Llc acquired 58,306 shares of Zymeworks stock. The stock was bought at an average cost of $12.64 per share, with a total value of $736,987.84.
• 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 acquired 468,356 shares of Zymeworks stock. The shares were purchased at an average cost of $12.48 per share, with a total value of $5,845,082.88.
• On Tuesday, March 11th, Ecor1 Capital, Llc bought 320,690 shares of Zymeworks stock. The stock was purchased at an average price of $11.49 per share, with a total value of $3,684,728.10.
• On Friday, January 17th, Ecor1 Capital, Llc purchased 19,748 shares of Zymeworks stock. The shares were purchased at an average price of $13.87 per share, for a total transaction of $273,904.76.
• On Wednesday, January 15th, Ecor1 Capital, Llc bought 39,029 shares of Zymeworks stock. The shares were acquired at an average price of $14.01 per share, with a total value of $546,796.29.
• On Monday, January 13th, Ecor1 Capital, Llc purchased 74,125 shares of Zymeworks stock. The stock was 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 stock was acquired at an average cost 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 shares were acquired at an average price of $14.07 per share, with a total value of $295,765.47.

Zymeworks Price Performance

Shares of ZYME stock opened at $13.05 on Tuesday. The company has a market cap of $907.98 million, a P/E ratio of -8.70 and a beta of 1.13. The stock’s 50-day moving average is $13.71 and its 200 day moving average is $13.72. Zymeworks Inc. has a 1-year low of $7.97 and a 1-year high of $17.70.

Institutional Investors Weigh In On Zymeworks

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Barclays PLC raised its stake in shares of Zymeworks by 476.3% in 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 during the last quarter. State Street Corp boosted its holdings in shares of 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 during the last quarter. Vestal Point Capital LP raised its holdings in shares of Zymeworks by 39.8% during the third quarter. Vestal Point Capital LP now owns 615,000 shares of the company’s stock worth $7,718,000 after purchasing an additional 175,000 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Zymeworks by 93.9% in the 4th 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 period. Finally, FMR LLC grew its holdings in Zymeworks by 84.2% during the third quarter. FMR LLC now owns 3,336 shares of the company’s stock worth $42,000 after acquiring an additional 1,525 shares during the period. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on ZYME shares. Wells Fargo & Company raised their price target 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. JPMorgan Chase & Co. raised shares of Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price target for the company in a research note on Monday, December 16th. Citigroup increased their price objective on Zymeworks from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Lifesci Capital started coverage on Zymeworks in a research report on Tuesday, March 11th. They set an “outperform” rating and a $30.00 target price for the company. Finally, HC Wainwright increased their price target on Zymeworks from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Monday, March 10th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Zymeworks currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

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.