Ecor1 Capital, LLC, more than 10% owner of Zymeworks’ (NASDAQ:ZYME) shares, made a huge insider buy transaction worth $7.87 million. The clinical-stage biopharmaceutical company develops protein therapeutics for the treatment of cancer, autoimmune, and inflammatory diseases.
Ecor1 Capital purchased 1,026,300 shares of the company at an average price of $7.66 per share in multiple transactions on January 10 and January 11. The total value of ZYME shares in the investment fund’s portfolio currently stands at $74.5 million. According to TipRanks’ ratings, the fund has a success rate of 58% with an average return of 7.5% per transaction.
Overall, corporate insiders have a neutral stance on Zymeworks. They have bought ZYME shares worth $8 million over the last three months.
Interestingly, TipRanks offers daily insider transactions as well as a list of top corporate insiders. It also provides a list of hot stocks that boast either a Very Positive or Positive insider confidence signal.
Is ZYME a Good Stock to Buy?
On TipRanks, Zymeworks stock has a Moderate Buy consensus rating based on two Buys and four Holds. The average ZYME stock price target of $10.17 implies 17.3% upside potential. The stock is up more than 70% in the past three months.
