Short Interest in Y-mAbs Therapeutics, Inc. (NASDAQ:YMAB) Drops By 25.6%

Key Points

• Y-mAbs Therapeutics experienced a significant decrease in short interest of 25.6% in August, with a total of 1,660,000 shares shorted.
• Equities analysts have generally downgraded Y-mAbs, with a consensus rating of "Reduce" and a price target averaging $9.62.
• The company reported a loss of $0.07 per share for the last quarter, exceeding analyst expectations while generating revenue of $19.52 million.

Y-mAbs Therapeutics, Inc. (NASDAQ:YMAB - Get Free Report) was the target of a large decline in short interest during the month of August. As of August 15th, there was short interest totaling 1,660,000 shares, a decline of 25.6% from the July 31st total of 2,230,000 shares. Approximately 4.8% of the shares of the stock are short sold. Based on an average daily volume of 763,700 shares, the short-interest ratio is presently 2.2 days. Based on an average daily volume of 763,700 shares, the short-interest ratio is presently 2.2 days. Approximately 4.8% of the shares of the stock are short sold.

Hedge Funds Weigh In On Y-mAbs Therapeutics

Several large investors have recently bought and sold shares of YMAB. Wells Fargo & Company MN increased its holdings 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 buying an additional 6,131 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Y-mAbs Therapeutics by 6.5% during the fourth quarter. Northern Trust Corp now owns 359,223 shares of the company's stock worth $2,813,000 after purchasing an additional 21,936 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Y-mAbs Therapeutics by 59.5% during the fourth quarter. Bank of America Corp DE now owns 127,159 shares of the company's stock worth $996,000 after purchasing an additional 47,439 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Y-mAbs Therapeutics during the fourth quarter worth about $376,000. Finally, Deutsche Bank AG grew its holdings in shares of Y-mAbs Therapeutics by 52.2% during the fourth quarter. Deutsche Bank AG now owns 32,253 shares of the company's stock worth $253,000 after purchasing an additional 11,059 shares during the last quarter. Hedge funds and other institutional investors own 70.85% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. HC Wainwright reiterated a "neutral" rating and issued a $8.60 price objective (down from $11.00) on shares of Y-mAbs Therapeutics in a report on Wednesday, August 6th. Morgan Stanley set a $8.60 price objective on Y-mAbs Therapeutics in a report on Tuesday, August 5th. Truist Financial set a $8.60 price target on Y-mAbs Therapeutics in a research report on Tuesday, August 5th. Jones Trading downgraded Y-mAbs Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Finally, Oppenheimer lowered Y-mAbs Therapeutics from an "outperform" rating to a "market perform" rating in a research note on Tuesday, August 5th. Eight analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Reduce" and an average price target of $9.62.

Y-mAbs Therapeutics Stock Performance

YMAB remained flat at $8.59 on Friday. The company had a trading volume of 522,855 shares, compared to its average volume of 865,316. Y-mAbs Therapeutics has a 1 year low of $3.55 and a 1 year high of $16.11. The stock has a market capitalization of $390.33 million, a P/E ratio of -17.18 and a beta of 0.54. The business has a fifty day moving average price of $6.84 and a 200-day moving average price of $5.38.

Y-mAbs Therapeutics (NASDAQ:YMAB - Get Free Report) last released its earnings results on Friday, August 8th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.20. The firm had revenue of $19.52 million during the quarter, compared to analysts' expectations of $18.40 million. Y-mAbs Therapeutics had a negative return on equity of 24.60% and a negative net margin of 26.03%. Research analysts forecast that Y-mAbs Therapeutics will post -0.65 earnings per share for the current fiscal 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.