HC Wainwright Cuts Y-mAbs Therapeutics (NASDAQ:YMAB) Price Target to $12.00

Y-mAbs Therapeutics (NASDAQ:YMAB) had its price target reduced by HC Wainwright from $22.00 to $12.00 in a research report report published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently weighed in on YMAB. Truist Financial lowered their target price on Y-mAbs Therapeutics from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Wedbush reiterated an “outperform” rating and set a $23.00 price target on shares of Y-mAbs Therapeutics in a report on Monday, March 3rd. Brookline Capital Management began coverage on Y-mAbs Therapeutics in a report on Thursday, December 5th. They set a “buy” rating and a $17.00 price target for the company. Bank of America reduced 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, Morgan Stanley reduced 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $18.30.

Y-mAbs Therapeutics Price Performance

NASDAQ:YMAB opened at $5.00 on Friday. Y-mAbs Therapeutics has a fifty-two week low of $4.25 and a fifty-two week high of $17.78. The stock’s 50-day moving average is $5.71 and its two-hundred day moving average is $9.77. The stock has a market cap of $226.09 million, a PE ratio of -9.26 and a beta of 0.65.

Y-mAbs Therapeutics (NASDAQ:YMAB) last released its 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). Y-mAbs Therapeutics had a negative net margin of 28.22% and a negative return on equity of 24.61%. The business had revenue of $26.50 million for the quarter, compared to analysts’ expectations of $26.70 million. During the same period last year, the firm earned ($0.02) EPS. On average, equities research analysts anticipate that Y-mAbs Therapeutics will post -0.65 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Thomas Gad sold 10,810 shares of the stock in a transaction that occurred 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 sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 22.50% of the company’s stock.

Institutional Investors Weigh In On Y-mAbs Therapeutics

Several hedge funds have recently modified their holdings of the business. Infinitum Asset Management LLC bought a new stake in shares of Y-mAbs Therapeutics in the fourth quarter valued at approximately $1,218,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Y-mAbs Therapeutics by 17.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 52,356 shares of the company’s stock valued at $410,000 after acquiring an additional 7,765 shares during the period. Two Sigma Investments LP boosted its position in shares of Y-mAbs Therapeutics by 31.6% in the fourth quarter. Two Sigma Investments LP now owns 88,337 shares of the company’s stock valued at $692,000 after acquiring an additional 21,196 shares during the period. Rafferty Asset Management LLC boosted its position in shares of Y-mAbs Therapeutics by 17.6% in the fourth quarter. Rafferty Asset Management LLC now owns 41,255 shares of the company’s stock valued at $323,000 after acquiring an additional 6,178 shares during the period. Finally, ProShare Advisors LLC bought a new stake in shares of Y-mAbs Therapeutics in the fourth quarter valued at approximately $99,000. 70.85% of the stock is 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.