Y-mAbs Therapeutics (NASDAQ:YMAB) Shares Up 6.8%

Shares of Y-mAbs Therapeutics, Inc (NASDAQ:YMAB) shot up 6.8% during mid-day trading on Thursday . The company traded as high as $27.35 and last traded at $27.00, 55,374 shares changed hands during trading. A decline of 55% from the average session volume of 123,741 shares. The stock had previously closed at $25.28.

A number of research firms have recently issued reports on YMAB. HC Wainwright set a $40.00 price target on shares of Y-mAbs Therapeutics and gave the company a “buy” rating in a research report on Monday, August 26th. Wedbush began coverage on shares of Y-mAbs Therapeutics in a research report on Tuesday, September 3rd. They set an “outperform” rating and a $38.00 price target for the company. Cowen reiterated a “buy” rating on shares of Y-mAbs Therapeutics in a research report on Monday, July 1st. Finally, Zacks Investment Research reiterated a “hold” rating on shares of Y-mAbs Therapeutics in a research report on Saturday, October 12th.

The company has a debt-to-equity ratio of 0.02, a quick ratio of 9.04 and a current ratio of 9.04. The stock has a market capitalization of $893.11 million and a price-to-earnings ratio of -18.00. The company has a 50-day moving average of $27.34 and a 200-day moving average of $24.36.

Y-mAbs Therapeutics (NASDAQ:YMAB) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.48) by ($0.05). As a group, analysts expect that Y-mAbs Therapeutics, Inc will post -2.1 earnings per share for the current year.

In other Y-mAbs Therapeutics news, Director Johan Wedell-Wedellsborg sold 89,166 shares of Y-mAbs Therapeutics stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $26.58, for a total value of $2,370,032.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Thomas Gad sold 4,000 shares of Y-mAbs Therapeutics stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $25.77, for a total transaction of $103,080.00. The disclosure for this sale can be found here. Insiders have sold a total of 348,010 shares of company stock valued at $9,425,028 over the last 90 days. Insiders own 38.40% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. TD Asset Management Inc. grew its stake in Y-mAbs Therapeutics by 11.5% during the 2nd quarter. TD Asset Management Inc. now owns 25,453 shares of the company’s stock valued at $582,000 after purchasing an additional 2,624 shares during the last quarter. Swiss National Bank purchased a new stake in Y-mAbs Therapeutics during the 2nd quarter valued at about $290,000. Wells Fargo & Company MN grew its stake in Y-mAbs Therapeutics by 422.2% during the 2nd quarter. Wells Fargo & Company MN now owns 19,203 shares of the company’s stock valued at $438,000 after purchasing an additional 15,526 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Y-mAbs Therapeutics by 10.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 33,189 shares of the company’s stock valued at $739,000 after purchasing an additional 3,115 shares during the last quarter. Finally, Alps Advisors Inc. purchased a new stake in Y-mAbs Therapeutics during the 2nd quarter valued at about $1,637,000. 31.69% of the stock is owned by hedge funds and other institutional investors.

About Y-mAbs Therapeutics (NASDAQ:YMAB)

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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