Y-mAbs Therapeutics (NASDAQ:YMAB) Issues Quarterly Earnings Results, Beats Estimates By $0.20 EPS

Key Points

• Y-mAbs Therapeutics reported an earnings per share (EPS) of ($0.07), exceeding analysts' estimates by $0.20, along with quarterly revenue of $19.52 million surpassing the expected $18.40 million.
• Institutional ownership is significant, with hedge funds holding 70.85% of the stock, including a notable 869.3% increase in stake by AQR Capital Management in Q1.
• Stock ratings have been downgraded recently, with several analysts lowering their price targets to $8.60, indicating a general sentiment shift towards a more cautious outlook on the stock.

Y-mAbs Therapeutics (NASDAQ:YMAB - Get Free Report) released its quarterly earnings data on Friday. The company reported ($0.07) earnings per share for the quarter, topping analysts' consensus estimates of ($0.27) by $0.20, Zacks reports. Y-mAbs Therapeutics had a negative net margin of 26.03% and a negative return on equity of 24.60%. The business had revenue of $19.52 million for the quarter, compared to analysts' expectations of $18.40 million.

Y-mAbs Therapeutics Stock Performance

Shares of YMAB remained flat at $8.51 during midday trading on Thursday. 1,305,302 shares of the company's stock traded hands, compared to its average volume of 1,621,760. Y-mAbs Therapeutics has a one year low of $3.55 and a one year high of $16.11. The stock's fifty day moving average price is $5.23 and its 200-day moving average price is $5.01. The company has a market capitalization of $386.69 million, a price-to-earnings ratio of -17.02 and a beta of 0.57.

Institutional Trading of Y-mAbs Therapeutics

Several institutional investors have recently made changes to their positions in YMAB. Raymond James Financial Inc. bought a new position in Y-mAbs Therapeutics during the second quarter valued at approximately $35,000. Marshall Wace LLP bought a new position in Y-mAbs Therapeutics during the second quarter valued at approximately $181,000. Invesco Ltd. raised its position in Y-mAbs Therapeutics by 31.6% during the second quarter. Invesco Ltd. now owns 42,833 shares of the company's stock valued at $193,000 after acquiring an additional 10,286 shares in the last quarter. Jane Street Group LLC bought a new position in Y-mAbs Therapeutics during the second quarter valued at approximately $275,000. Finally, Jump Financial LLC raised its position in Y-mAbs Therapeutics by 61.5% during the second quarter. Jump Financial LLC now owns 61,500 shares of the company's stock valued at $277,000 after acquiring an additional 23,421 shares in the last quarter. 70.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on YMAB shares. HC Wainwright reissued a "neutral" rating and set a $8.60 target price (down previously from $11.00) on shares of Y-mAbs Therapeutics in a research note on Wednesday, August 6th. Bank of America cut shares of Y-mAbs Therapeutics from a "neutral" rating to an "underperform" rating and set a $3.00 target price on the stock. in a research note on Tuesday, April 22nd. Brookline Capital Management cut shares of Y-mAbs Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Truist Financial set a $8.60 target price on shares of Y-mAbs Therapeutics in a research note on Tuesday, August 5th. Finally, Oppenheimer cut shares of Y-mAbs Therapeutics from an "outperform" rating to a "market perform" rating in a research note on Tuesday, August 5th. Two equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, Y-mAbs Therapeutics has an average rating of "Hold" and an average price target of $9.62.

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.