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

Y-mAbs Therapeutics (NASDAQ:YMAB) had its target price dropped by HC Wainwright from $22.00 to $12.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target suggests a potential upside of 140.00% from the stock’s previous close.

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

Y-mAbs Therapeutics Price Performance

Shares of NASDAQ:YMAB opened at $5.00 on Friday. Y-mAbs Therapeutics has a 1 year low of $4.25 and a 1 year high of $17.78. The business has a 50 day simple moving average of $5.71 and a two-hundred day simple moving average of $9.80. The firm has a market capitalization of $226.09 million, a PE ratio of -9.26 and a beta of 0.65.

Y-mAbs Therapeutics (NASDAQ:YMAB) last announced its earnings results on Tuesday, March 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The business 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 quarter last year, the firm earned ($0.02) EPS. Equities research analysts expect that Y-mAbs Therapeutics will post -0.65 EPS for the current fiscal year.

Insider Transactions at Y-mAbs Therapeutics

In other news, insider Thomas Gad sold 10,810 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 202,721 shares of the company’s stock, valued at approximately $1,060,230.83. This represents a 5.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 22.50% of the company’s stock.

Hedge Funds Weigh In On Y-mAbs Therapeutics

Several hedge funds have recently made changes to their positions in YMAB. Principal Financial Group Inc. acquired a new position in shares of Y-mAbs Therapeutics in the 3rd quarter valued at $267,000. Intech Investment Management LLC acquired a new position in shares of Y-mAbs Therapeutics in the 3rd quarter valued at $133,000. Charles Schwab Investment Management Inc. increased its position in shares of 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 during the period. FMR LLC boosted its holdings in Y-mAbs Therapeutics by 23.1% in the third 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 purchased a new stake in Y-mAbs Therapeutics in the third quarter valued at $44,000. 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.