HC Wainwright Has Lowered Expectations for Y-mAbs Therapeutics (NASDAQ:YMAB) Stock Price

Y-mAbs Therapeutics (NASDAQ:YMAB) had its target price lowered by investment analysts at HC Wainwright from $22.00 to $12.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price would suggest a potential upside of 143.90% from the company’s previous close.

A number of other research analysts also recently issued reports on YMAB. Truist Financial reduced their price target on Y-mAbs Therapeutics from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Morgan Stanley reduced their target price on Y-mAbs Therapeutics from $11.00 to $7.00 and set an “underweight” rating on the stock in a research note on Wednesday, March 5th. Wedbush reaffirmed an “outperform” rating and issued a $23.00 price target on shares of Y-mAbs Therapeutics in a research note on Monday, March 3rd. Brookline Capital Management started coverage on shares of Y-mAbs Therapeutics in a research report on Thursday, December 5th. They set a “buy” rating and a $17.00 price objective on the stock. Finally, Bank of America dropped their target price on shares of Y-mAbs Therapeutics from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Y-mAbs Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $18.30.

Y-mAbs Therapeutics Stock Performance

NASDAQ:YMAB opened at $4.92 on Friday. Y-mAbs Therapeutics has a fifty-two week low of $4.25 and a fifty-two week high of $17.78. The firm has a market cap of $222.47 million, a PE ratio of -9.11 and a beta of 0.65. The business has a 50 day moving average price of $5.75 and a 200-day moving average price of $9.90.

Y-mAbs Therapeutics (NASDAQ:YMAB) last announced its quarterly earnings results on Tuesday, March 4th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The firm had revenue of $26.50 million for the quarter, compared to analysts’ expectations of $26.70 million. Y-mAbs Therapeutics had a negative net margin of 28.22% and a negative return on equity of 24.61%. During the same period in the previous year, the company earned ($0.02) EPS. Research analysts predict that Y-mAbs Therapeutics will post -0.65 EPS for the current year.

Insider Activity at Y-mAbs Therapeutics

In related news, insider Thomas Gad sold 10,810 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $5.23, for a total transaction of $56,536.30. Following the completion of the transaction, the insider now owns 202,721 shares of the company’s stock, valued at $1,060,230.83. This trade represents a 5.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 22.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Y-mAbs Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of YMAB. Principal Financial Group Inc. bought a new stake in Y-mAbs Therapeutics during the 3rd quarter valued at about $267,000. Intech Investment Management LLC purchased a new stake in shares of Y-mAbs Therapeutics during the third quarter valued at approximately $133,000. Charles Schwab Investment Management Inc. lifted its position in Y-mAbs Therapeutics by 9.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 279,577 shares of the company’s stock valued at $3,676,000 after acquiring an additional 23,982 shares in the last quarter. FMR LLC boosted its stake in Y-mAbs Therapeutics by 23.1% during the 3rd quarter. FMR LLC now owns 36,416 shares of the company’s stock valued at $479,000 after purchasing an additional 6,822 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Y-mAbs Therapeutics in the 3rd quarter worth $44,000. 70.85% of the stock is currently owned by institutional investors.

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.