Zymeworks Inc. (NYSE:ZYME) Major Shareholder Ecor1 Capital, Llc Acquires 144,100 Shares

Zymeworks Inc. (NYSE:ZYMEGet Rating) major shareholder Ecor1 Capital, Llc purchased 144,100 shares of the stock in a transaction on Thursday, January 19th. The shares were acquired at an average cost of $9.49 per share, with a total value of $1,367,509.00. Following the transaction, the insider now directly owns 9,724,073 shares in the company, valued at $92,281,452.77. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares 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 purchased 440,000 shares of Zymeworks stock. The shares were acquired at an average cost of $9.80 per share, with a total value of $4,312,000.00.
  • On Friday, January 13th, Ecor1 Capital, Llc purchased 342,100 shares of Zymeworks stock. The shares were acquired 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 bought 920,000 shares of Zymeworks stock. The shares were purchased at an average price of $7.65 per share, for a total transaction of $7,038,000.00.

Zymeworks Stock Down 5.9 %

Zymeworks stock opened at $9.41 on Tuesday. The company has a market capitalization of $592.86 million, a P/E ratio of -2.46 and a beta of 1.09. The stock’s 50 day moving average is $7.92 and its 200 day moving average is $6.82. Zymeworks Inc. has a twelve month low of $4.11 and a twelve month high of $11.19.

Zymeworks (NYSE:ZYMEGet Rating) last released its quarterly earnings data on Tuesday, November 8th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.94) by $0.22. The business had revenue of $2.63 million for the quarter, compared to analysts’ expectations of $4.74 million. Zymeworks had a negative return on equity of 89.24% and a negative net margin of 751.00%. As a group, equities analysts expect that Zymeworks Inc. will post 1.48 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ZYME. Jefferies Financial Group upgraded Zymeworks from a “hold” rating to a “buy” rating and upped their target price for the stock from $7.70 to $11.00 in a report on Monday, December 19th. Stifel Nicolaus reduced their target price on Zymeworks from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, October 24th. SVB Leerink upped their target price on Zymeworks from $8.00 to $10.00 and gave the stock a “market perform” rating in a report on Friday. Barclays upped 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. Finally, HC Wainwright reduced their target price on Zymeworks from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Wednesday, January 4th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $14.40.

Hedge Funds Weigh In On Zymeworks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Values First Advisors Inc. lifted its position in Zymeworks by 13.8% in the 2nd quarter. Values First Advisors Inc. now owns 18,140 shares of the company’s stock valued at $96,000 after acquiring an additional 2,205 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Zymeworks by 3.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 72,524 shares of the company’s stock valued at $446,000 after acquiring an additional 2,281 shares in the last quarter. Quantbot Technologies LP lifted its position in Zymeworks by 58.9% in the 2nd quarter. Quantbot Technologies LP now owns 10,300 shares of the company’s stock valued at $54,000 after acquiring an additional 3,818 shares in the last quarter. Bank of Montreal Can lifted its position in Zymeworks by 19.8% in the 1st quarter. Bank of Montreal Can now owns 24,872 shares of the company’s stock valued at $167,000 after acquiring an additional 4,103 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Zymeworks by 23.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 22,520 shares of the company’s stock valued at $119,000 after buying an additional 4,226 shares during the period. 88.28% of the stock is owned by institutional investors.

Zymeworks Company Profile

(Get Rating)

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.

Further Reading

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