Oppenheimer Begins Coverage on Y-mAbs Therapeutics (NASDAQ:YMAB)

Equities researchers at Oppenheimer initiated coverage on shares of Y-mAbs Therapeutics (NASDAQ:YMAB) in a report released on Monday, MarketBeat Ratings reports. The firm set an “outperform” rating and a $23.00 price target on the stock. Oppenheimer’s price target indicates a potential upside of 111.79% from the stock’s current price.

A number of other equities research analysts have also commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $20.00 price target on shares of Y-mAbs Therapeutics in a report on Monday, September 9th. HC Wainwright reiterated a “buy” rating and issued a $22.00 price target on shares of Y-mAbs Therapeutics in a research note on Friday, November 15th. BMO Capital Markets cut their target price on Y-mAbs Therapeutics from $26.00 to $25.00 and set an “outperform” rating for the company in a research report on Tuesday, August 13th. Morgan Stanley cut their price objective on shares of Y-mAbs Therapeutics from $12.00 to $11.00 and set an “underweight” rating for the company in a report on Tuesday, August 13th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $26.00 price target on shares of Y-mAbs Therapeutics in a report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.38.

Y-mAbs Therapeutics Stock Up 1.3 %

NASDAQ YMAB opened at $10.86 on Monday. Y-mAbs Therapeutics has a 12-month low of $5.17 and a 12-month high of $20.90. The company’s 50 day moving average is $13.87 and its 200-day moving average is $12.96. The firm has a market cap of $486.42 million, a P/E ratio of -20.11 and a beta of 0.68.

Y-mAbs Therapeutics (NASDAQ:YMAB) last announced its earnings results on Friday, November 8th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.02). Y-mAbs Therapeutics had a negative net margin of 28.22% and a negative return on equity of 24.61%. The company had revenue of $18.46 million during the quarter, compared to analysts’ expectations of $23.38 million. During the same period in the prior year, the business earned ($0.18) earnings per share. Equities analysts expect that Y-mAbs Therapeutics will post -0.64 EPS for the current year.

Insiders Place Their Bets

In other Y-mAbs Therapeutics news, COO Joris Wilms sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $14.69, for a total value of $73,450.00. Following the sale, the chief operating officer now owns 30,600 shares in the company, valued at approximately $449,514. This represents a 14.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Thomas Gad sold 30,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $12.97, for a total transaction of $389,100.00. Following the sale, the insider now owns 67,681 shares in the company, valued at approximately $877,822.57. This represents a 30.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,000 shares of company stock valued at $1,338,100. 22.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC increased its stake in Y-mAbs Therapeutics by 433.4% during the 3rd quarter. Barclays PLC now owns 69,222 shares of the company’s stock worth $910,000 after buying an additional 56,244 shares in the last quarter. Empire Financial Management Company LLC purchased a new position in Y-mAbs Therapeutics in the 3rd quarter valued at $210,000. Geode Capital Management LLC boosted its stake in Y-mAbs Therapeutics by 6.2% during the 3rd quarter. Geode Capital Management LLC now owns 813,489 shares of the company’s stock worth $10,699,000 after purchasing an additional 47,846 shares during the last quarter. State Street Corp raised its position in shares of Y-mAbs Therapeutics by 50.4% in the third quarter. State Street Corp now owns 1,209,781 shares of the company’s stock valued at $15,909,000 after buying an additional 405,169 shares during the last quarter. Finally, Caligan Partners LP lifted its stake in Y-mAbs Therapeutics by 105.3% in the 3rd quarter. Caligan Partners LP now owns 1,195,253 shares of the company’s stock worth $15,718,000 after purchasing an additional 613,175 shares in the last quarter. 70.85% of the stock is owned by hedge funds and other 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.