Y-mAbs Therapeutics (NASDAQ:YMAB) Shares Up 7%

Y-mAbs Therapeutics, Inc. (NASDAQ:YMAB)’s share price was up 7% during mid-day trading on Tuesday . The company traded as high as $16.39 and last traded at $16.22. Approximately 296,275 shares were traded during mid-day trading, a decline of 26% from the average daily volume of 402,522 shares. The stock had previously closed at $15.16.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on YMAB shares. HC Wainwright boosted their target price on shares of Y-mAbs Therapeutics from $21.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Wedbush reaffirmed an “outperform” rating and set a $18.00 price target (up from $12.00) on shares of Y-mAbs Therapeutics in a research report on Monday, February 12th. Canaccord Genuity Group lifted their price target on shares of Y-mAbs Therapeutics from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Monday, March 4th. Finally, BMO Capital Markets lifted their price target on shares of Y-mAbs Therapeutics from $16.00 to $26.00 and gave the company an “outperform” rating in a research report on Monday, March 4th. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $16.57.

Y-mAbs Therapeutics Stock Performance

The company’s 50-day moving average price is $15.78 and its two-hundred day moving average price is $10.30.

Y-mAbs Therapeutics (NASDAQ:YMAB) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.17. Y-mAbs Therapeutics had a negative net margin of 25.26% and a negative return on equity of 20.72%. The company had revenue of $23.36 million during the quarter, compared to analyst estimates of $21.72 million. On average, sell-side analysts expect that Y-mAbs Therapeutics, Inc. will post -0.43 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Vignesh Rajah sold 1,711 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $16.53, for a total transaction of $28,282.83. Following the completion of the sale, the senior vice president now directly owns 33,889 shares in the company, valued at $560,185.17. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 21.50% of the company’s stock.

Hedge Funds Weigh In On Y-mAbs Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC raised its position in shares of Y-mAbs Therapeutics by 24.0% in the third quarter. Acadian Asset Management LLC now owns 811,261 shares of the company’s stock valued at $4,420,000 after purchasing an additional 157,173 shares during the period. Los Angeles Capital Management LLC grew its stake in shares of Y-mAbs Therapeutics by 17.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 356,530 shares of the company’s stock worth $2,432,000 after acquiring an additional 52,610 shares during the last quarter. GSA Capital Partners LLP grew its stake in shares of Y-mAbs Therapeutics by 208.3% in the third quarter. GSA Capital Partners LLP now owns 137,299 shares of the company’s stock worth $748,000 after acquiring an additional 92,765 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Y-mAbs Therapeutics by 20.1% in the third quarter. Victory Capital Management Inc. now owns 109,500 shares of the company’s stock worth $597,000 after acquiring an additional 18,320 shares during the last quarter. Finally, Strs Ohio grew its stake in shares of Y-mAbs Therapeutics by 20.1% in the third quarter. Strs Ohio now owns 89,000 shares of the company’s stock worth $485,000 after acquiring an additional 14,900 shares during the last quarter. Institutional investors own 70.85% of the company’s stock.

Y-mAbs Therapeutics Company Profile

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.