Zymeworks Inc. (NYSE:ZYME) Major Shareholder Purchases $1,367,509.00 in Stock

Zymeworks Inc. (NYSE:ZYME – Get Rating) major shareholder Ecor1 Capital, Llc bought 144,100 shares of the company’s stock in a transaction on Thursday, January 19th. The stock was purchased at an average cost of $9.49 per share, for a total transaction of $1,367,509.00. Following the completion of the transaction, the insider now directly owns 9,724,073 shares of the company’s stock, valued at approximately $92,281,452.77. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases 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 stock was purchased at an average cost of $9.80 per share, for a total transaction of $4,312,000.00.
• On Friday, January 13th, Ecor1 Capital, Llc bought 342,100 shares of Zymeworks stock. The stock was purchased at an average cost of $9.81 per share, for a total transaction of $3,356,001.00.
• On Tuesday, January 10th, Ecor1 Capital, Llc bought 920,000 shares of Zymeworks stock. The stock was purchased at an average cost of $7.65 per share, for a total transaction of $7,038,000.00.

Zymeworks Stock Down 5.9 %

ZYME traded down $0.59 on Monday, hitting $9.41. 632,467 shares of the company’s stock traded hands, compared to its average volume of 1,079,978. The company’s 50 day simple moving average is $7.89 and its 200-day simple moving average is $6.79. Zymeworks Inc. has a one year low of $4.11 and a one year high of $11.19.

Zymeworks (NYSE:ZYME – Get Rating) last issued its earnings results 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. 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 for the quarter, compared to the consensus estimate of $4.74 million. Research analysts expect that Zymeworks Inc. will post 1.48 earnings per share for the current fiscal year.

Institutional Trading of Zymeworks

Large investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new stake in Zymeworks in the 1st quarter worth approximately $42,000. First Republic Investment Management Inc. bought a new stake in Zymeworks in the 1st quarter worth approximately $66,000. Lazard Asset Management LLC bought a new stake in Zymeworks in the 1st quarter worth approximately $66,000. ExodusPoint Capital Management LP bought a new stake in Zymeworks in the 3rd quarter worth approximately $68,000. Finally, Envestnet Asset Management Inc. bought a new stake in Zymeworks in the 2nd quarter worth approximately $62,000. Institutional investors own 88.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ZYME shares. Jefferies Financial Group raised Zymeworks from a “hold” rating to a “buy” rating and raised their price objective for the stock from $7.70 to $11.00 in a research note on Monday, December 19th. Guggenheim raised their price objective on Zymeworks from $15.00 to $16.00 in a research note on Thursday. Stifel Nicolaus decreased their price objective on Zymeworks from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, October 24th. SVB Leerink raised their price objective on Zymeworks from $8.00 to $10.00 and gave the stock a “market perform” rating in a research note on Friday. Finally, HC Wainwright decreased their price objective on Zymeworks from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 4th. Three equities 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, Zymeworks presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.40.

Zymeworks Company Profile

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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.