Insider Buying: Zymeworks Inc. (NYSE:ZYME) Director Purchases $168,846.96 in Stock

Zymeworks Inc. (NYSE:ZYME) Director Ecor1 Capital, Llc purchased 11,958 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were bought at an average cost of $14.12 per share, with a total value of $168,846.96. Following the purchase, the director now directly owns 14,704,239 shares of the company’s stock, valued at approximately $207,623,854.68. This represents a 0.08 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Thursday, December 26th, Ecor1 Capital, Llc acquired 16,692 shares of Zymeworks stock. The shares were purchased at an average price of $14.38 per share, for a total transaction of $240,030.96.

Zymeworks Price Performance

NYSE:ZYME opened at $14.50 on Monday. The stock has a market capitalization of $998.73 million, a price-to-earnings ratio of -9.67 and a beta of 1.12. Zymeworks Inc. has a 52 week low of $7.97 and a 52 week high of $17.70. The firm has a 50 day moving average of $14.27 and a 200 day moving average of $12.05.

Zymeworks (NYSE:ZYME) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.01. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The firm had revenue of $16.00 million during the quarter, compared to analyst estimates of $17.90 million. During the same quarter in the prior year, the business posted ($0.41) EPS. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. As a group, analysts expect that Zymeworks Inc. will post -1.43 EPS for the current year.

Institutional Investors Weigh In On Zymeworks

Several institutional investors have recently added to or reduced their stakes in the business. FMR LLC increased its holdings in shares of Zymeworks by 84.2% during the third quarter. FMR LLC now owns 3,336 shares of the company’s stock valued at $42,000 after acquiring an additional 1,525 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Zymeworks during the 3rd quarter valued at approximately $47,000. Quest Partners LLC raised its holdings in shares of Zymeworks by 8,049.6% in the second quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock worth $78,000 after buying an additional 9,096 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Zymeworks during the third quarter worth $79,000. Finally, MQS Management LLC purchased a new stake in shares of Zymeworks during the second quarter valued at $92,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Stifel Nicolaus raised their price target on Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Citigroup raised their target price on shares of Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, November 4th. 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 report on Monday, December 16th. Wells Fargo & Company boosted their price objective 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. Finally, HC Wainwright restated a “neutral” rating and set a $12.00 target price on shares of Zymeworks in a report on Friday, November 22nd. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.17.

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.