Insider Buying: Zymeworks Inc. (NYSE:ZYME) Major Shareholder Purchases 440,000 Shares of Stock

Zymeworks Inc. (NYSE:ZYMEGet 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.

Zymeworks (NYSE:ZYMEGet Rating) last posted its earnings results on Tuesday, November 8th. The company reported ($0.72) EPS for the quarter, beating the consensus estimate of ($0.94) by $0.22. Zymeworks had a negative return on equity of 89.24% and a negative net margin of 751.00%. The company had revenue of $2.63 million during the quarter, compared to analyst estimates of $4.74 million. Equities analysts forecast that Zymeworks Inc. will post 1.47 earnings per share for the current year.

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

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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.

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