Y-mAbs Therapeutics (NASDAQ:YMAB) Shares Gap Down on Insider Selling

Thursday, July 22, 2021 | MarketBeat

Y-mAbs Therapeutics, Inc. (NASDAQ:YMAB)'s stock price gapped down before the market opened on Thursday following insider selling activity. The stock had previously closed at $35.05, but opened at $33.94. Y-mAbs Therapeutics shares last traded at $34.84, with a volume of 1,901 shares. Specifically, Director Biotech Aps Wg sold 116,700 shares of the stock in a transaction on Wednesday, June 9th. The stock was sold at an average price of $36.19, for a total transaction of $4,223,373.00. Following the transaction, the director now owns 4,306,394 shares of the company's stock, valued at approximately $155,848,398.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Thomas Gad sold 7,000 shares of the stock in a transaction on Monday, April 26th. The stock was sold at an average price of $27.96, for a total value of $195,720.00. Following the transaction, the insider now directly owns 7,000 shares in the company, valued at approximately $195,720. The disclosure for this sale can be found here. In the last three months, insiders have sold 290,471 shares of company stock worth $10,171,239. Corporate insiders own 38.40% of the company's stock.

Several brokerages recently weighed in on YMAB. Bank of America raised Y-mAbs Therapeutics from a "neutral" rating to a "buy" rating in a research report on Friday, May 7th. Zacks Investment Research lowered Y-mAbs Therapeutics from a "hold" rating to a "sell" rating in a research report on Tuesday, July 13th. HC Wainwright reaffirmed a "buy" rating and issued a $68.00 target price on shares of Y-mAbs Therapeutics in a research report on Wednesday, July 7th. Finally, Wedbush cut their target price on Y-mAbs Therapeutics from $67.00 to $52.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of "Buy" and a consensus price target of $54.13.

The business's fifty day simple moving average is $34.42.

Y-mAbs Therapeutics (NASDAQ:YMAB) last announced its quarterly earnings results on Thursday, May 6th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.14. The company had revenue of $5.38 million during the quarter, compared to analyst estimates of $35.67 million. On average, equities analysts anticipate that Y-mAbs Therapeutics, Inc. will post -1.29 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in YMAB. Teachers Retirement System of The State of Kentucky grew its stake in shares of Y-mAbs Therapeutics by 24.7% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 25,674 shares of the company's stock valued at $776,000 after acquiring an additional 5,090 shares in the last quarter. Squarepoint Ops LLC grew its stake in shares of Y-mAbs Therapeutics by 87.1% during the first quarter. Squarepoint Ops LLC now owns 36,889 shares of the company's stock valued at $1,116,000 after acquiring an additional 17,174 shares in the last quarter. Millennium Management LLC grew its stake in shares of Y-mAbs Therapeutics by 171.2% during the first quarter. Millennium Management LLC now owns 284,888 shares of the company's stock valued at $8,615,000 after acquiring an additional 179,831 shares in the last quarter. Voloridge Investment Management LLC acquired a new stake in shares of Y-mAbs Therapeutics during the first quarter valued at about $393,000. Finally, First Light Asset Management LLC grew its stake in shares of Y-mAbs Therapeutics by 48.5% during the first quarter. First Light Asset Management LLC now owns 944,253 shares of the company's stock valued at $28,554,000 after acquiring an additional 308,601 shares in the last quarter. Hedge funds and other institutional investors own 60.77% of the company's stock.

Y-mAbs Therapeutics Company Profile (NASDAQ:YMAB)

Y-mAbs Therapeutics, Inc, a commercial-stage biopharmaceutical company, focuses on the development and commercialization of novel antibody based therapeutic products for the treatment of cancer in the United States. 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.

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