Renaissance Technologies LLC Raises Stock Position in Y-mAbs Therapeutics, Inc. (NASDAQ:YMAB)

Renaissance Technologies LLC increased its stake in Y-mAbs Therapeutics, Inc. (NASDAQ:YMAB - Free Report) by 371.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,600 shares of the company's stock after buying an additional 103,700 shares during the period. Renaissance Technologies LLC owned 0.29% of Y-mAbs Therapeutics worth $1,030,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of YMAB. Geode Capital Management LLC lifted its stake in shares of Y-mAbs Therapeutics by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 822,309 shares of the company's stock valued at $6,440,000 after purchasing an additional 8,820 shares during the period. Pictet Asset Management Holding SA lifted its position in Y-mAbs Therapeutics by 9.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 756,297 shares of the company's stock valued at $5,922,000 after buying an additional 68,317 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Y-mAbs Therapeutics by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 284,540 shares of the company's stock valued at $2,228,000 after buying an additional 4,963 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Y-mAbs Therapeutics by 221.9% in the 4th quarter. JPMorgan Chase & Co. now owns 97,660 shares of the company's stock worth $765,000 after buying an additional 67,325 shares during the period. Finally, Barclays PLC increased its stake in shares of Y-mAbs Therapeutics by 433.4% in the 3rd quarter. Barclays PLC now owns 69,222 shares of the company's stock worth $910,000 after acquiring an additional 56,244 shares in the last quarter. 70.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on YMAB. HC Wainwright cut their price objective on shares of Y-mAbs Therapeutics from $22.00 to $12.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Truist Financial cut their price target on Y-mAbs Therapeutics from $21.00 to $18.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. Bank of America cut Y-mAbs Therapeutics from a "neutral" rating to an "underperform" rating and set a $3.00 price objective for the company. in a research note on Tuesday, April 22nd. Morgan Stanley cut their target price on Y-mAbs Therapeutics from $11.00 to $7.00 and set an "underweight" rating on the stock in a research note on Wednesday, March 5th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $23.00 price target on shares of Y-mAbs Therapeutics in a research report on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.40.

Insider Transactions at Y-mAbs Therapeutics

In related news, insider Thomas Gad sold 10,810 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $5.23, for a total value of $56,536.30. Following the transaction, the insider now owns 202,721 shares of the company's stock, valued at approximately $1,060,230.83. This trade represents a 5.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 22.50% of the company's stock.

Y-mAbs Therapeutics Price Performance

NASDAQ YMAB traded down $0.39 during trading hours on Tuesday, hitting $3.86. The company's stock had a trading volume of 332,467 shares, compared to its average volume of 325,978. The company has a market cap of $174.77 million, a P/E ratio of -7.15 and a beta of 0.53. The company's 50 day simple moving average is $4.65 and its two-hundred day simple moving average is $7.65. Y-mAbs Therapeutics, Inc. has a 12 month low of $3.84 and a 12 month high of $17.47.

Y-mAbs Therapeutics (NASDAQ:YMAB - Get Free Report) last announced its quarterly earnings results on Tuesday, March 4th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.02). Y-mAbs Therapeutics had a negative return on equity of 24.61% and a negative net margin of 28.22%. The company had revenue of $26.50 million during the quarter, compared to the consensus estimate of $26.70 million. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. As a group, research analysts predict that Y-mAbs Therapeutics, Inc. will post -0.65 earnings per share for the current fiscal 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.