Y-mAbs Therapeutics (NASDAQ:YMAB) Rating Lowered to "Hold" at Truist Financial

Key Points

• Y-mAbs Therapeutics (NASDAQ:YMAB) has been downgraded from a "strong-buy" to a "hold" rating by Truist Financial and other analysts, reflecting a shift in market sentiment.
• The average stock price target for Y-mAbs has decreased to $11.16, with several analysts cutting their target prices significantly, indicating concerns about the company's financial performance and outlook.
• Despite recent downgrades, Y-mAbs reported a quarterly earnings surprise with $20.90 million in revenue, exceeding expectations of $19.97 million, signifying potential resilience in its operational performance.

Y-mAbs Therapeutics (NASDAQ:YMAB - Get Free Report) was downgraded by investment analysts at Truist Financial from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Tuesday,Zacks.com reports.

YMAB has been the topic of several other research reports. Canaccord Genuity Group cut shares of Y-mAbs Therapeutics from a "strong-buy" rating to a "hold" rating and reduced their target price for the company from $26.00 to $8.60 in a report on Tuesday. Oppenheimer cut shares of Y-mAbs Therapeutics from an "outperform" rating to a "market perform" rating in a report on Tuesday. Morgan Stanley set a $8.60 target price on shares of Y-mAbs Therapeutics in a report on Tuesday. HC Wainwright reissued a "neutral" rating and set a $8.60 price objective (down previously from $11.00) on shares of Y-mAbs Therapeutics in a report on Wednesday. Finally, Jones Trading reissued a "hold" rating on shares of Y-mAbs Therapeutics in a report on Tuesday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $11.16.

Y-mAbs Therapeutics Stock Performance

Shares of YMAB opened at $8.52 on Tuesday. The stock has a market capitalization of $385.82 million, a PE ratio of -13.31 and a beta of 0.57. Y-mAbs Therapeutics has a 1 year low of $3.55 and a 1 year high of $16.11. The company's 50-day simple moving average is $4.79 and its 200-day simple moving average is $4.92.

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 (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.10. The business had revenue of $20.90 million for the quarter, compared to analysts' expectations of $19.97 million. Y-mAbs Therapeutics had a negative net margin of 31.84% and a negative return on equity of 30.59%. On average, sell-side analysts predict that Y-mAbs Therapeutics will post -0.65 earnings per share for the current year.

Hedge Funds Weigh In On Y-mAbs Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of YMAB. Rhumbline Advisers raised its stake in shares of Y-mAbs Therapeutics by 4.8% during the 1st quarter. Rhumbline Advisers now owns 53,909 shares of the company's stock worth $239,000 after buying an additional 2,457 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Y-mAbs Therapeutics by 12.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,818 shares of the company's stock worth $179,000 after buying an additional 2,545 shares during the last quarter. Jump Financial LLC raised its stake in shares of Y-mAbs Therapeutics by 14.1% during the 1st quarter. Jump Financial LLC now owns 38,079 shares of the company's stock worth $169,000 after buying an additional 4,699 shares during the last quarter. CWM LLC raised its stake in shares of Y-mAbs Therapeutics by 203.0% during the 2nd quarter. CWM LLC now owns 7,121 shares of the company's stock worth $32,000 after buying an additional 4,771 shares during the last quarter. Finally, Brooklyn Investment Group raised its stake in shares of Y-mAbs Therapeutics by 4,563.8% during the 1st quarter. Brooklyn Investment Group now owns 5,923 shares of the company's stock worth $26,000 after buying an additional 5,796 shares during the last quarter. 70.85% of the stock is currently owned by hedge funds and other institutional investors.

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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