Y-mAbs Therapeutics (NASDAQ:YMAB) Stock Rating Reaffirmed by Wedbush

Y-mAbs Therapeutics (NASDAQ:YMAB)‘s stock had its “outperform” rating reissued by investment analysts at Wedbush in a research report issued on Tuesday, Marketbeat reports. They currently have a $23.00 price target on the stock. Wedbush’s target price suggests a potential upside of 73.32% from the company’s previous close.

YMAB has been the topic of several other research reports. BMO Capital Markets cut their price target on Y-mAbs Therapeutics from $26.00 to $25.00 and set an “outperform” rating on the stock in a report on Tuesday, August 13th. Truist Financial assumed coverage on shares of Y-mAbs Therapeutics in a report on Friday, June 28th. They issued a “buy” rating and a $21.00 target price on the stock. Canaccord Genuity Group upgraded shares of Y-mAbs Therapeutics to a “strong-buy” rating in a report on Tuesday, August 13th. Morgan Stanley reduced their price objective on shares of Y-mAbs Therapeutics from $12.00 to $11.00 and set an “underweight” rating on the stock in a report on Tuesday, August 13th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $26.00 target price on shares of Y-mAbs Therapeutics in a research note on Tuesday, August 13th. One analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.14.

Y-mAbs Therapeutics Price Performance

Shares of YMAB stock opened at $13.27 on Tuesday. The company has a 50-day moving average of $12.54 and a two-hundred day moving average of $13.61. The firm has a market cap of $591.44 million, a PE ratio of -27.08 and a beta of 0.70. Y-mAbs Therapeutics has a 1-year low of $4.69 and a 1-year high of $20.90.

Y-mAbs Therapeutics (NASDAQ:YMAB) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.08). The firm had revenue of $22.80 million during the quarter, compared to analysts’ expectations of $23.09 million. Y-mAbs Therapeutics had a negative net margin of 28.44% and a negative return on equity of 24.88%. During the same quarter in the prior year, the firm posted ($0.14) EPS. Sell-side analysts anticipate that Y-mAbs Therapeutics will post -0.57 EPS for the current fiscal year.

Insider Buying and Selling at Y-mAbs Therapeutics

In other Y-mAbs Therapeutics news, COO Joris Wilms sold 5,000 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $14.69, for a total transaction of $73,450.00. Following the transaction, the chief operating officer now directly owns 30,600 shares of the company’s stock, valued at approximately $449,514. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 21.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Y-mAbs Therapeutics

Institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in shares of Y-mAbs Therapeutics by 15.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 484,431 shares of the company’s stock worth $5,853,000 after buying an additional 65,732 shares in the last quarter. Millennium Management LLC lifted its holdings in Y-mAbs Therapeutics by 23.8% in the second quarter. Millennium Management LLC now owns 349,784 shares of the company’s stock valued at $4,225,000 after acquiring an additional 67,233 shares during the period. Squarepoint Ops LLC grew its stake in shares of Y-mAbs Therapeutics by 143.4% during the 2nd quarter. Squarepoint Ops LLC now owns 126,389 shares of the company’s stock worth $1,527,000 after purchasing an additional 74,452 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Y-mAbs Therapeutics by 8.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 120,954 shares of the company’s stock valued at $1,461,000 after purchasing an additional 8,974 shares in the last quarter. Finally, Rice Hall James & Associates LLC boosted its holdings in Y-mAbs Therapeutics by 4.2% during the second quarter. Rice Hall James & Associates LLC now owns 89,735 shares of the company’s stock worth $1,084,000 after buying an additional 3,589 shares in the last quarter. 70.85% of the stock is owned by institutional investors and hedge funds.

About Y-mAbs Therapeutics

Y-mAbs Therapeutics, Inc, a commercial-stage biopharmaceutical company, focuses on the development and commercialization of antibody based therapeutic products for the treatment of cancer in the United States and internationally. It offers DANYELZA, a monoclonal antibody in combination with granulocyte-macrophage colony-stimulating factor for the treatment of pediatric patients with relapsed or refractory high-risk neuroblastoma in the bone or bone marrow.