Acorn Capital Advisors LLC Raises Stake in Y-mAbs Therapeutics, Inc. $YMAB

Key Points

• Acorn Capital Advisors LLC increased its stake in Y-mAbs Therapeutics by 13.1%, making it the company's 3rd largest holding with 3,235,387 shares valued at approximately $14.33 million.
• Y-mAbs Therapeutics reported a quarterly earnings per share of ($0.07), surpassing analyst expectations and generating revenue of $19.52 million, higher than their anticipated $18.40 million.
• Several research firms have recently downgraded their ratings on Y-mAbs Therapeutics, with Oppenheimer shifting from "outperform" to "market perform" and setting a price target of $8.60.

Acorn Capital Advisors LLC grew its position in shares of Y-mAbs Therapeutics, Inc. (NASDAQ:YMAB - Free Report) by 13.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,235,387 shares of the company's stock after buying an additional 373,562 shares during the quarter. Y-mAbs Therapeutics makes up about 9.3% of Acorn Capital Advisors LLC's investment portfolio, making the stock its 3rd largest holding. Acorn Capital Advisors LLC owned approximately 7.14% of Y-mAbs Therapeutics worth $14,333,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Bank of America Corp DE lifted its holdings in shares of Y-mAbs Therapeutics by 59.5% during the 4th quarter. Bank of America Corp DE now owns 127,159 shares of the company's stock valued at $996,000 after buying an additional 47,439 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Y-mAbs Therapeutics by 107.9% during the 1st quarter. Exchange Traded Concepts LLC now owns 26,762 shares of the company's stock valued at $119,000 after buying an additional 13,890 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Y-mAbs Therapeutics by 54.1% during the 4th quarter. Wells Fargo & Company MN now owns 17,458 shares of the company's stock valued at $137,000 after buying an additional 6,131 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Y-mAbs Therapeutics by 17.4% during the 4th 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 buying an additional 7,765 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Y-mAbs Therapeutics by 52.2% during the 4th quarter. Deutsche Bank AG now owns 32,253 shares of the company's stock valued at $253,000 after buying an additional 11,059 shares during the last quarter. 70.85% of the stock is currently owned by institutional investors and hedge funds.

Y-mAbs Therapeutics Price Performance

YMAB traded down $0.01 on Thursday, hitting $8.58. The company had a trading volume of 158,794 shares, compared to its average volume of 536,033. The company's fifty day moving average price is $6.26 and its 200 day moving average price is $5.25. Y-mAbs Therapeutics, Inc. has a 1-year low of $3.55 and a 1-year high of $16.11. The stock has a market cap of $389.65 million, a price-to-earnings ratio of -17.15 and a beta of 0.54.

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

Wall Street Analysts Forecast Growth

YMAB has been the subject of several research reports. Wedbush lowered Y-mAbs Therapeutics from a "strong-buy" rating to a "hold" rating and set a $8.60 price target for the company. in a report on Tuesday, August 5th. Brookline Capital Management lowered Y-mAbs Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Morgan Stanley set a $8.60 target price on Y-mAbs Therapeutics in a report on Tuesday, August 5th. HC Wainwright restated a "neutral" rating and issued a $8.60 target price (down from $11.00) on shares of Y-mAbs Therapeutics in a report on Wednesday, August 6th. Finally, Oppenheimer lowered Y-mAbs Therapeutics from an "outperform" rating to a "market perform" rating in a report on Tuesday, August 5th. Eight investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average price target of $9.62.

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.