Zymeworks Inc. (NYSE:ZYME) Major Shareholder Ecor1 Capital, Llc Purchases 342,100 Shares

Zymeworks Inc. (NYSE:ZYMEGet Rating) major shareholder Ecor1 Capital, Llc bought 342,100 shares of the firm’s stock in a transaction on Friday, January 13th. The shares were bought at an average cost of $9.81 per share, with a total value of $3,356,001.00. Following the transaction, the insider now directly owns 8,936,973 shares of the company’s stock, valued at $87,671,705.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more 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 Tuesday, January 17th, Ecor1 Capital, Llc bought 440,000 shares of Zymeworks stock. The shares were bought at an average cost of $9.80 per share, with a total value of $4,312,000.00.
  • On Tuesday, January 10th, Ecor1 Capital, Llc bought 920,000 shares of Zymeworks stock. The shares were bought at an average cost of $7.65 per share, with a total value of $7,038,000.00.

Zymeworks Price Performance

Shares of ZYME stock opened at $9.68 on Friday. The stock has a market cap of $609.87 million, a P/E 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 stock has a fifty day moving average price of $7.86 and a 200 day moving average price of $6.75.

Zymeworks (NYSE:ZYMEGet Rating) last issued its earnings results on Tuesday, November 8th. The company reported ($0.72) EPS for the quarter, topping 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 firm had revenue of $2.63 million during the quarter, compared to analysts’ expectations of $4.74 million. Equities research analysts anticipate that Zymeworks Inc. will post 1.47 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ZYME. Swiss National Bank raised its stake in Zymeworks by 45.6% during the first quarter. Swiss National Bank now owns 118,500 shares of the company’s stock worth $776,000 after acquiring an additional 37,100 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Zymeworks by 804.9% during the first quarter. JPMorgan Chase & Co. now owns 686,784 shares of the company’s stock worth $4,498,000 after acquiring an additional 610,892 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Zymeworks by 12.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 71,967 shares of the company’s stock valued at $471,000 after buying an additional 7,868 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Zymeworks by 19.8% in the first quarter. Bank of Montreal Can now owns 24,872 shares of the company’s stock valued at $167,000 after buying an additional 4,103 shares in the last quarter. Finally, BlackRock Inc. increased its stake in shares of Zymeworks by 20.0% in the first quarter. BlackRock Inc. now owns 973,451 shares of the company’s stock valued at $6,377,000 after buying an additional 162,353 shares in the last quarter. 88.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on ZYME. SVB Leerink cut Zymeworks from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $19.00 to $8.00 in a research report on Friday, October 21st. Jefferies Financial Group raised Zymeworks from a “hold” rating to a “buy” rating and increased their price objective for the company from $7.70 to $11.00 in a research report on Monday, December 19th. Guggenheim increased their price objective on Zymeworks from $15.00 to $16.00 in a research report on Thursday. Stifel Nicolaus reduced their price objective on Zymeworks from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, October 24th. Finally, Wells Fargo & Company reduced their price objective on Zymeworks from $45.00 to $9.00 and set an “overweight” rating for the company in a research report on Tuesday, October 4th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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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