Zymeworks Inc. (NYSE:ZYME – Get Rating) major shareholder Ecor1 Capital, Llc bought 440,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 17th. The stock was bought at an average cost of $9.80 per share, for a total transaction of $4,312,000.00. Following the completion of the transaction, the insider now directly owns 9,376,973 shares of the company’s stock, valued at approximately $91,894,335.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Ecor1 Capital, Llc also recently made the following trade(s):
- On Friday, January 13th, Ecor1 Capital, Llc acquired 342,100 shares of Zymeworks stock. The shares were bought at an average cost of $9.81 per share, with a total value of $3,356,001.00.
- On Tuesday, January 10th, Ecor1 Capital, Llc purchased 920,000 shares of Zymeworks stock. The shares were purchased at an average cost of $7.65 per share, with a total value of $7,038,000.00.
Zymeworks Stock Performance
NYSE ZYME opened at $9.68 on Friday. The firm has a market capitalization of $609.87 million, a PE ratio of -2.53 and a beta of 1.09. Zymeworks Inc. has a one year low of $4.11 and a one year high of $13.33. The company has a 50-day simple moving average of $7.86 and a 200-day simple moving average of $6.75.
Hedge Funds Weigh In On Zymeworks
Institutional investors have recently modified their holdings of the company. Perceptive Advisors LLC increased its position in Zymeworks by 6.5% in the 3rd quarter. Perceptive Advisors LLC now owns 4,400,099 shares of the company’s stock valued at $27,060,000 after acquiring an additional 267,565 shares during the period. Cowen AND Company LLC acquired a new stake in Zymeworks in the second quarter worth about $7,950,000. Goldman Sachs Group Inc. grew its position in Zymeworks by 126.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,179,893 shares of the company’s stock valued at $6,253,000 after buying an additional 659,457 shares in the last quarter. Alyeska Investment Group L.P. raised its position in shares of Zymeworks by 73.7% during the 1st quarter. Alyeska Investment Group L.P. now owns 1,164,103 shares of the company’s stock worth $7,625,000 after buying an additional 493,763 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in shares of Zymeworks by 20.0% in the 1st quarter. BlackRock Inc. now owns 973,451 shares of the company’s stock worth $6,377,000 after acquiring an additional 162,353 shares during the period. Institutional investors own 88.28% of the company’s stock.
Analyst Ratings Changes
A number of analysts have recently issued reports on the company. Barclays boosted their target price on Zymeworks from $7.00 to $9.00 and gave the stock an “equal weight” rating in a report on Thursday, December 22nd. Wells Fargo & Company reduced their price objective on Zymeworks from $45.00 to $9.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 4th. Guggenheim boosted their price target on Zymeworks from $15.00 to $16.00 in a research report on Thursday. Stifel Nicolaus reduced their target price on shares of Zymeworks from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, October 24th. Finally, HC Wainwright cut their price objective on shares of Zymeworks from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Wednesday, January 4th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Zymeworks currently has a consensus rating of “Moderate Buy” and an average target price of $14.20.
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 novel bispecific antibody that is in Phase 1 and Phase 2 clinical trials for the treatment of biliary tract, gastroesophageal adenocarcinomas, breast, and colorectal cancer; and ZW49, a biparatopic anti-human epidermal growth factor receptor 2 (HER2) antibody-drug conjugate that is in Phase 1 clinical trial for the treatment of advanced or metastatic HER2-expressing tumors.
Featured Stories
- Get a free copy of the StockNews.com research report on Zymeworks (ZYME)
- Exxon Mobil Stock: Within Striking Distance Of Buy Point
- High-Dividend-Yielding BHP Sees China Driving ’23 Growth
- Is Airbnb Setting Up To Rally 38%, As Analysts Are Forecasting?
- Does a Price Cut for Tesla Vehicles Mean the Same for TSLA Stock?
- Microsoft Layoffs Signal Layoffs for Other Tech Companies?
Receive News & Ratings for Zymeworks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zymeworks and related companies with MarketBeat.com's FREE daily email newsletter.