Zacks Investment Research Upgrades Y-mAbs Therapeutics (YMAB) to Hold

Y-mAbs Therapeutics (NASDAQ:YMAB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday, Zacks.com reports.

According to Zacks, “Y-mAbs Therapeutics Inc. is a biopharmaceutical company. It focused on the development and commercialization of novel, antibody-based therapeutic products for the treatment of cancer. The company’s product pipeline consists of naxitamab and omburtamab which are in clinical stage. Y-mAbs Therapeutics Inc. is based in NEW YORK, USA. “

Separately, HC Wainwright initiated coverage on shares of Y-mAbs Therapeutics in a report on Monday, April 1st. They issued a “buy” rating and a $36.00 target price for the company. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Y-mAbs Therapeutics has a consensus rating of “Buy” and a consensus target price of $30.00.

YMAB traded down $0.33 during trading on Friday, hitting $21.01. 1,029 shares of the company’s stock were exchanged, compared to its average volume of 79,699. The company has a current ratio of 13.30, a quick ratio of 13.30 and a debt-to-equity ratio of 0.02. Y-mAbs Therapeutics has a fifty-two week low of $15.17 and a fifty-two week high of $31.00. The company has a market cap of $731.74 million and a price-to-earnings ratio of -14.01.

Y-mAbs Therapeutics (NASDAQ:YMAB) last released its quarterly earnings data on Friday, March 22nd. The company reported ($0.42) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by ($0.11). As a group, equities analysts forecast that Y-mAbs Therapeutics will post -1.93 earnings per share for the current fiscal year.

In other news, insider Thomas Gad sold 250,000 shares of the stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $25.89, for a total value of $6,472,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Several hedge funds have recently made changes to their positions in the company. BNP Paribas Arbitrage SA purchased a new stake in shares of Y-mAbs Therapeutics in the first quarter valued at about $38,000. Citigroup Inc. bought a new position in Y-mAbs Therapeutics during the fourth quarter valued at about $37,000. Strs Ohio bought a new position in Y-mAbs Therapeutics during the fourth quarter valued at about $38,000. New York State Common Retirement Fund bought a new position in Y-mAbs Therapeutics during the first quarter valued at about $63,000. Finally, TD Asset Management Inc. grew its position in Y-mAbs Therapeutics by 24.1% during the first quarter. TD Asset Management Inc. now owns 22,829 shares of the company’s stock valued at $598,000 after buying an additional 4,432 shares during the period. Institutional investors own 25.36% of the company’s stock.

Y-mAbs Therapeutics Company Profile

Y-mAbs Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel antibody-based therapeutic products for the treatment cancer in the United States. It is developing naxitamab for the treatment of pediatric patients with relapsed or refractory, high-risk neuroblastoma, as well as other GD2 positive tumors; and omburtamab for the treatment of pediatric patients with central nervous system, leptomeningeal metastases, desmoplastic small round cell tumors, diffuse intrinsic pontine glioma, and other B7-H3 positive tumors.

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