EcoR1 Capital acquires $5.32 million in Zymeworks stock

EcoR1 Capital, under the leadership of Oleg Nodelman, acts as the general partner and investment adviser for private funds, including the EcoR1 Capital Fund Qualified, L.P. These transactions further solidify EcoR1 Capital's position as a significant investor in Zymeworks, with total shares owned following these transactions reaching 15,185,959. Scott Platshon, an employee of EcoR1, serves as a director on the board of Zymeworks, having been nominated by EcoR1 and its associated funds. The company maintains a strong financial position with a current ratio of 4.1, and InvestingPro rates its overall financial health as "Good." Discover more insights about ZYME and access the comprehensive Pro Research Report, available exclusively with an InvestingPro subscription. The company maintains a strong financial position with a current ratio of 4.1, and InvestingPro rates its overall financial health as "Good." Discover more insights about ZYME and access the comprehensive Pro Research Report, available exclusively with an InvestingPro subscription.

The most recent acquisition occurred on January 2, 2025, where EcoR1 Capital acquired 157,880 shares at an average price of $14.7796. Prior to this, on December 31, 2024, the firm purchased 146,501 shares at $14.5695 per share. Additionally, on December 30, 2024, EcoR1 Capital acquired 58,988 shares at a price of $14.4661. Analysts maintain a bullish outlook on the stock, with a consensus target suggesting potential upside and three analysts recently revising earnings estimates upward.

EcoR1 Capital, under the leadership of Oleg Nodelman, acts as the general partner and investment adviser for private funds, including the EcoR1 Capital Fund Qualified, L.P. These transactions further solidify EcoR1 Capital's position as a significant investor in Zymeworks, with total shares owned following these transactions reaching 15,185,959.

Scott Platshon, an employee of EcoR1, serves as a director on the board of Zymeworks, having been nominated by EcoR1 and its associated funds.

In other recent news, Zymeworks Inc (NASDAQ:ZYME). has seen several significant developments. The biopharmaceutical company received an upgrade from JPMorgan, lifting its stock rating from Neutral to Overweight and setting a new price target at $18.00. This followed Zymeworks' recent R&D day, which showcased a promising pipeline in oncology and autoimmune diseases. The company has also accelerated its '5 by 5' strategy for solid tumor treatments, introducing ZW209 as its fifth candidate.

Furthermore, the FDA has given accelerated approval to Zymeworks' drug Ziihera for the treatment of biliary tract cancer, leading to a $25 million regulatory milestone payment from Jazz Pharmaceuticals (NASDAQ:JAZZ). This approval also resulted in Leerink Partners upgrading Zymeworks' stock rating from Market Perform to Outperform and raising the price target to $26.

In addition, Zymeworks disclosed changes to its non-employee director compensation policy and plans to file Investigational New Drug applications for two promising antibody-drug conjugates, ZW220 and ZW251, in 2025. Despite a net loss of $99.2 million in Q3 2024, an improvement from the previous year, these recent developments highlight Zymeworks' commitment to advancing novel therapeutics for difficult-to-treat cancers.

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