Y-mAbs Therapeutics, Inc. (NASDAQ:YMAB) Short Interest Up 80,222.6% in July

Key Points

• The short interest in Y-mAbs Therapeutics surged by 80,222.6% in July, totaling 2,490,000 shares, with 7.4% of the company's stock currently sold short.
• Analysts have lowered their price targets for Y-mAbs Therapeutics, with Oppenheimer setting a new target of $15.00 and Bank of America dropping theirs to $3.00, while the average rating remains a "Moderate Buy."
• Institutional investors own 70.85% of Y-mAbs Therapeutics, with Bank of America significantly increasing its stake by 59.5% last quarter.

Y-mAbs Therapeutics, Inc. (NASDAQ:YMAB - Get Free Report) was the recipient of a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 2,490,000 shares, agrowthof80,222.6% from the June 30th total of 3,100 shares. Currently,7.4% of the company's stock are sold short. Based on an average daily trading volume, of 201,100 shares, the days-to-cover ratio is currently 12.4 days. Based on an average daily trading volume, of 201,100 shares, the days-to-cover ratio is currently 12.4 days. Currently,7.4% of the company's stock are sold short.

Analysts Set New Price Targets

YMAB has been the topic of several analyst reports. Oppenheimer lowered their target price on shares of Y-mAbs Therapeutics from $20.00 to $15.00 and set an "outperform" rating on the stock in a research report on Thursday, May 29th. Bank of America cut shares of 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. Wedbush restated an "outperform" rating and set a $18.00 price target (down previously from $21.00) on shares of Y-mAbs Therapeutics in a research note on Wednesday, May 28th. HC Wainwright cut their price target on shares of 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. Finally, Truist Financial cut their price target on shares of 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $15.60.

Institutional Trading of Y-mAbs Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE increased its holdings in shares of Y-mAbs Therapeutics by 59.5% in the fourth quarter. Bank of America Corp DE now owns 127,159 shares of the company's stock valued at $996,000 after purchasing an additional 47,439 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Y-mAbs Therapeutics by 107.9% in the first quarter. Exchange Traded Concepts LLC now owns 26,762 shares of the company's stock valued at $119,000 after acquiring an additional 13,890 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Y-mAbs Therapeutics by 54.1% in the fourth quarter. Wells Fargo & Company MN now owns 17,458 shares of the company's stock valued at $137,000 after acquiring an additional 6,131 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Y-mAbs Therapeutics by 17.4% in the fourth 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 acquiring an additional 7,765 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Y-mAbs Therapeutics by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 822,309 shares of the company's stock valued at $6,440,000 after acquiring an additional 8,820 shares during the last quarter. Institutional investors and hedge funds own 70.85% of the company's stock.

Y-mAbs Therapeutics Trading Up 0.4%

Shares of Y-mAbs Therapeutics stock traded up $0.02 during midday trading on Friday, reaching $4.49. The company had a trading volume of 53,941 shares, compared to its average volume of 301,860. The company has a market capitalization of $203.31 million, a price-to-earnings ratio of -7.05 and a beta of 0.51. The stock has a fifty day simple moving average of $4.63 and a 200 day simple moving average of $4.91. Y-mAbs Therapeutics has a 1-year low of $3.55 and a 1-year high of $16.11.

Y-mAbs Therapeutics (NASDAQ:YMAB - Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $20.90 million during the quarter, compared to analyst estimates of $19.97 million. Y-mAbs Therapeutics had a negative net margin of 31.84% and a negative return on equity of 30.59%. Sell-side analysts expect that Y-mAbs Therapeutics will post -0.65 earnings per share for the current year.

Y-mAbs Therapeutics Company Profile

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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