Jacobs Levy Equity Management Inc. Acquires 87,830 Shares of Y-mAbs Therapeutics, Inc. $YMAB

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in Y-mAbs Therapeutics by 58.7%, acquiring 87,830 additional shares, bringing its total holdings to 237,511 shares worth approximately $1,052,000.
• Multiple institutional investors, including Northern Trust Corp and Bank of America Corp DE, also boosted their holdings in Y-mAbs Therapeutics during the last quarter, with institutional investors now owning 70.85% of the stock.
• Analysts have set a consensus target price of $9.62 for Y-mAbs Therapeutics, with recent reports indicating a trend of downgrades to "hold" ratings amidst expectations of continued financial losses.

Jacobs Levy Equity Management Inc. increased its holdings in Y-mAbs Therapeutics, Inc. (NASDAQ:YMAB - Free Report) by 58.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 237,511 shares of the company's stock after buying an additional 87,830 shares during the period. Jacobs Levy Equity Management Inc. owned 0.52% of Y-mAbs Therapeutics worth $1,052,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of YMAB. Northern Trust Corp boosted its holdings in Y-mAbs Therapeutics by 6.5% in the 4th quarter. Northern Trust Corp now owns 359,223 shares of the company's stock worth $2,813,000 after buying an additional 21,936 shares during the period. Bank of America Corp DE lifted its stake in Y-mAbs Therapeutics by 59.5% in the 4th quarter. Bank of America Corp DE now owns 127,159 shares of the company's stock worth $996,000 after purchasing an additional 47,439 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Y-mAbs Therapeutics in the 4th quarter worth approximately $376,000. Deutsche Bank AG lifted its stake in Y-mAbs Therapeutics by 52.2% in the 4th quarter. Deutsche Bank AG now owns 32,253 shares of the company's stock worth $253,000 after purchasing an additional 11,059 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Y-mAbs Therapeutics by 12.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,818 shares of the company's stock worth $179,000 after purchasing an additional 2,545 shares in the last quarter. 70.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Cantor Fitzgerald set a $8.60 target price on shares of Y-mAbs Therapeutics and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Canaccord Genuity Group cut shares of Y-mAbs Therapeutics from a "strong-buy" rating to a "hold" rating and lowered their price objective for the company from $26.00 to $8.60 in a research report on Tuesday, August 5th. Truist Financial set a $8.60 price objective on shares of Y-mAbs Therapeutics in a research report on Tuesday, August 5th. Morgan Stanley set a $8.60 price objective on shares of Y-mAbs Therapeutics in a research report on Tuesday, August 5th. Finally, Wedbush cut shares of Y-mAbs Therapeutics from a "strong-buy" rating to a "hold" rating and set a $8.60 price objective on the stock. in a research report on Tuesday, August 5th. Eight research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Y-mAbs Therapeutics currently has an average rating of "Reduce" and a consensus target price of $9.62.

Y-mAbs Therapeutics Stock Up 0.1%

Shares of NASDAQ:YMAB opened at $8.59 on Friday. The stock has a market cap of $390.33 million, a PE ratio of -17.18 and a beta of 0.54. The company's fifty day moving average is $6.75 and its 200 day moving average is $5.36. Y-mAbs Therapeutics, Inc. has a 52 week low of $3.55 and a 52 week high of $16.11.

Y-mAbs Therapeutics (NASDAQ:YMAB - Get Free Report) last issued its earnings results on Friday, August 8th. The company reported ($0.07) EPS for the quarter, topping analysts' consensus estimates of ($0.27) by $0.20. The company had revenue of $19.52 million for the quarter, compared to analysts' expectations of $18.40 million. Y-mAbs Therapeutics had a negative net margin of 26.03% and a negative return on equity of 24.60%. Sell-side analysts anticipate that Y-mAbs Therapeutics, Inc. will post -0.65 EPS for the current year.

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.

Want to see what other hedge funds are holding YMAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Y-mAbs Therapeutics, Inc. (NASDAQ:YMAB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.