Y-mAbs Therapeutics (NASDAQ:YMAB) Stock Rating Lowered by Bank of America

Bank of America downgraded shares of Y-mAbs Therapeutics (NASDAQ:YMAB) from a neutral rating to an underperform rating in a research note published on Tuesday, Marketbeat.com reports. The brokerage currently has $3.00 price target on the stock.

YMAB has been the subject of a number of other research reports. HC Wainwright reduced their price objective on shares of Y-mAbs Therapeutics from $22.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Wedbush reaffirmed an “outperform” rating and set a $23.00 price objective on shares of Y-mAbs Therapeutics in a research report on Monday, March 3rd. Morgan Stanley reduced their target price on shares of Y-mAbs Therapeutics from $11.00 to $7.00 and set an “underweight” rating for the company in a report on Wednesday, March 5th. Finally, Truist Financial lowered their price target on shares of Y-mAbs Therapeutics from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $17.40.

Y-mAbs Therapeutics Trading Down 11.6 %

Shares of YMAB stock opened at $4.26 on Tuesday. Y-mAbs Therapeutics has a twelve month low of $3.84 and a twelve month high of $17.78. The stock has a fifty day simple moving average of $5.00 and a two-hundred day simple moving average of $8.35. The stock has a market capitalization of $192.63 million, a price-to-earnings ratio of -7.89 and a beta of 0.71.

Y-mAbs Therapeutics (NASDAQ:YMAB) last released its quarterly earnings data on Tuesday, March 4th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). Y-mAbs Therapeutics had a negative return on equity of 24.61% and a negative net margin of 28.22%. The business had revenue of $26.50 million during the quarter, compared to analysts’ expectations of $26.70 million. During the same period last year, the company earned ($0.02) earnings per share. Research analysts predict that Y-mAbs Therapeutics will post -0.65 EPS for the current fiscal 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 on Friday, March 7th. The stock was sold at an average price of $5.23, for a total value of $56,536.30. Following the completion of the transaction, the insider now owns 202,721 shares in the company, valued at $1,060,230.83. This trade represents a 5.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 22.50% of the stock is currently owned by insiders.

Institutional Trading of Y-mAbs Therapeutics

Large investors have recently added to or reduced their stakes in the company. State Street Corp boosted its position in 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. Barclays PLC lifted 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 valued at $910,000 after acquiring an additional 56,244 shares during the period. Geode Capital Management LLC lifted 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 valued at $10,699,000 after acquiring an additional 47,846 shares during the period. Principal Financial Group Inc. acquired a new stake in shares of Y-mAbs Therapeutics in the third quarter worth $267,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Y-mAbs Therapeutics by 10.4% in the third quarter. JPMorgan Chase & Co. now owns 30,335 shares of the company’s stock worth $399,000 after acquiring an additional 2,854 shares during the period. Hedge funds and other institutional investors own 70.85% of the company’s stock.

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.