Wedbush Reiterates Outperform Rating for Y-mAbs Therapeutics (NASDAQ:YMAB)

Y-mAbs Therapeutics (NASDAQ:YMAB - Get Free Report)'s stock had its "outperform" rating reissued by equities research analysts at Wedbush in a research report issued on Wednesday,RTT News reports. They presently have a $18.00 price objective on the stock, down from their prior price objective of $21.00. Wedbush's target price would indicate a potential upside of 286.68% from the stock's current price.

Several other equities research analysts have also recently commented on the company. Truist Financial cut their price target on Y-mAbs Therapeutics from $18.00 to $14.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. HC Wainwright cut their price target on Y-mAbs Therapeutics from $12.00 to $11.00 and set a "buy" rating for the company in a research note on Monday, May 19th. Morgan Stanley cut their price target on Y-mAbs Therapeutics from $11.00 to $7.00 and set an "underweight" rating for the company in a research note on Wednesday, March 5th. Oppenheimer cut their price target on Y-mAbs Therapeutics from $21.00 to $20.00 and set an "outperform" rating for the company in a research note on Wednesday, May 14th. Finally, Bank of America cut Y-mAbs Therapeutics from a "neutral" rating to an "underperform" rating and set a $3.00 price target for the company. in a research note on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $16.10.

Y-mAbs Therapeutics Stock Performance

NASDAQ YMAB traded up $0.25 on Wednesday, reaching $4.66. The stock had a trading volume of 51,850 shares, compared to its average volume of 310,882. Y-mAbs Therapeutics has a 12-month low of $3.55 and a 12-month high of $16.11. The business's 50-day moving average price is $4.39 and its 200 day moving average price is $6.52. The stock has a market cap of $210.80 million, a P/E ratio of -8.62 and a beta of 0.53.

Y-mAbs Therapeutics (NASDAQ:YMAB - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.12) earnings per share for the quarter, beating analysts' consensus estimates of ($0.22) by $0.10. 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 $20.90 million during the quarter, compared to analysts' expectations of $19.97 million. On average, sell-side analysts predict that Y-mAbs Therapeutics will post -0.65 earnings per share for the current year.

Insiders Place Their Bets

In other Y-mAbs Therapeutics news, insider Thomas Gad sold 10,810 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $5.23, for a total value of $56,536.30. Following the completion of the transaction, the insider now owns 202,721 shares in the company, valued at approximately $1,060,230.83. This represents a 5.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 22.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of YMAB. Brooklyn Investment Group grew its holdings in Y-mAbs Therapeutics by 4,563.8% in the first quarter. Brooklyn Investment Group now owns 5,923 shares of the company's stock valued at $26,000 after purchasing an additional 5,796 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Y-mAbs Therapeutics in the fourth quarter valued at $46,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Y-mAbs Therapeutics in the first quarter valued at $49,000. Corton Capital Inc. acquired a new stake in Y-mAbs Therapeutics in the first quarter valued at $55,000. Finally, EntryPoint Capital LLC acquired a new stake in Y-mAbs Therapeutics in the first quarter valued at $56,000. Hedge funds and other institutional investors own 70.85% of the company's stock.

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.

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