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Zacks Investment Research Downgrades Y-mAbs Therapeutics (NASDAQ:YMAB) to Hold

Last updated on Wednesday, February 24, 2021 | 2021 MarketBeat

Y-mAbs Therapeutics (NASDAQ:YMAB) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, "Y-mAbs Therapeutics Inc. is a biopharmaceutical company. It focused on the development and commercialization of novel, antibody-based therapeutic products for the treatment of cancer. The company's product pipeline consists of naxitamab and omburtamab which are in clinical stage. Y-mAbs Therapeutics Inc. is based in NEW YORK, USA. "

Other research analysts have also recently issued reports about the company. Morgan Stanley raised their target price on Y-mAbs Therapeutics from $42.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 12th. Barclays raised their target price on Y-mAbs Therapeutics from $55.00 to $65.00 and gave the stock an "overweight" rating in a research report on Thursday, December 17th. Wedbush raised their target price on Y-mAbs Therapeutics from $52.00 to $71.00 and gave the stock an "outperform" rating in a research report on Thursday, December 17th. Bank of America cut Y-mAbs Therapeutics from a "buy" rating to a "neutral" rating and set a $56.00 target price on the stock. in a research report on Friday, January 15th. Finally, HC Wainwright raised their price objective on Y-mAbs Therapeutics from $52.00 to $65.00 and gave the stock a "buy" rating in a research note on Monday, November 9th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has a consensus rating of "Buy" and an average price target of $56.71.

Shares of NASDAQ:YMAB opened at $38.05 on Wednesday. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of -12.81 and a beta of 1.36. The stock's 50-day simple moving average is $46.35 and its two-hundred day simple moving average is $44.64. Y-mAbs Therapeutics has a 52-week low of $14.16 and a 52-week high of $55.22.

In related news, CEO Pedro Claus Juan Moller-San sold 40,734 shares of Y-mAbs Therapeutics stock in a transaction that occurred on Wednesday, December 2nd. The stock was sold at an average price of $51.27, for a total transaction of $2,088,432.18. Following the sale, the chief executive officer now owns 15,625 shares of the company's stock, valued at approximately $801,093.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas Gad sold 50,000 shares of Y-mAbs Therapeutics stock in a transaction that occurred on Thursday, December 10th. The shares were sold at an average price of $50.75, for a total value of $2,537,500.00. Following the sale, the insider now directly owns 50,000 shares in the company, valued at approximately $2,537,500. The disclosure for this sale can be found here. Insiders sold 128,734 shares of company stock worth $6,542,232 in the last ninety days. Corporate insiders own 38.40% of the company's stock.

A number of institutional investors and hedge funds have recently modified their holdings of YMAB. Pacer Advisors Inc. bought a new stake in Y-mAbs Therapeutics in the 3rd quarter worth approximately $30,000. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Y-mAbs Therapeutics in the 3rd quarter worth approximately $38,000. Nisa Investment Advisors LLC purchased a new position in shares of Y-mAbs Therapeutics in the 3rd quarter worth approximately $44,000. Penserra Capital Management LLC boosted its holdings in shares of Y-mAbs Therapeutics by 171.9% in the 4th quarter. Penserra Capital Management LLC now owns 930 shares of the company's stock worth $46,000 after purchasing an additional 588 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Y-mAbs Therapeutics by 178.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,868 shares of the company's stock worth $72,000 after purchasing an additional 1,197 shares during the period. 53.20% of the stock is currently owned by institutional investors.

About Y-mAbs Therapeutics

Y-mAbs Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel antibody-based therapeutic products for the treatment cancer in the United States. The company develops naxitamab that is in Phase 2 clinical trial for the treatment of pediatric patients with relapsed steosarcoma or refractory, and high-risk neuroblastoma, as well as other GD2 positive tumors; and GD2-GD3 Vaccine which is in Phase 2 clinical trial for the treatment of high-risk neuroblastoma.

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Analyst Recommendations for Y-mAbs Therapeutics (NASDAQ:YMAB)

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 [email protected]


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