Canaccord Genuity Group Upgrades Y-mAbs Therapeutics (NASDAQ:YMAB) to Strong-Buy

Y-mAbs Therapeutics (NASDAQ:YMAB) was upgraded by investment analysts at Canaccord Genuity Group to a “strong-buy” rating in a note issued to investors on Tuesday, Zacks.com reports.

A number of other research analysts have also commented on YMAB. Canaccord Genuity Group reissued a “buy” rating and set a $26.00 price objective on shares of Y-mAbs Therapeutics in a report on Tuesday. BMO Capital Markets decreased their price objective on shares of Y-mAbs Therapeutics from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Tuesday. Wedbush reaffirmed an “outperform” rating and issued a $23.00 price target on shares of Y-mAbs Therapeutics in a research report on Monday. HC Wainwright reissued a “buy” rating and set a $22.00 price objective on shares of Y-mAbs Therapeutics in a research report on Tuesday. Finally, Morgan Stanley lowered their target price on Y-mAbs Therapeutics from $12.00 to $11.00 and set an “underweight” rating on the stock in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $19.29.

Y-mAbs Therapeutics Stock Performance

YMAB stock opened at $11.97 on Tuesday. The firm has a 50 day simple moving average of $11.84 and a 200 day simple moving average of $13.71. Y-mAbs Therapeutics has a 52 week low of $4.69 and a 52 week high of $20.90. The stock has a market cap of $525.28 million, a P/E ratio of -24.43 and a beta of 0.66.

Y-mAbs Therapeutics (NASDAQ:YMAB) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.08). Y-mAbs Therapeutics had a negative return on equity of 21.40% and a negative net margin of 25.64%. The company had revenue of $22.80 million during the quarter, compared to analyst estimates of $23.09 million. During the same period last year, the company posted ($0.14) earnings per share. Sell-side analysts predict that Y-mAbs Therapeutics will post -0.52 EPS for the current year.

Insiders Place Their Bets

In other Y-mAbs Therapeutics news, insider Thomas Gad sold 7,351 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $13.00, for a total value of $95,563.00. Following the completion of the sale, the insider now owns 232,681 shares in the company, valued at approximately $3,024,853. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Bo Kruse sold 31,371 shares of the business’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $12.07, for a total transaction of $378,647.97. Following the completion of the sale, the chief financial officer now owns 210,877 shares in the company, valued at $2,545,285.39. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Thomas Gad sold 7,351 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $13.00, for a total value of $95,563.00. Following the transaction, the insider now directly owns 232,681 shares in the company, valued at approximately $3,024,853. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 99,444 shares of company stock valued at $1,203,925. 21.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Y-mAbs Therapeutics

Several large investors have recently bought and sold shares of YMAB. Campbell & CO Investment Adviser LLC acquired a new position in Y-mAbs Therapeutics in the fourth quarter valued at about $562,000. Federated Hermes Inc. increased its stake in shares of Y-mAbs Therapeutics by 4,708.0% in the 4th quarter. Federated Hermes Inc. now owns 44,474 shares of the company’s stock valued at $303,000 after acquiring an additional 43,549 shares during the last quarter. Sapient Capital LLC acquired a new stake in shares of Y-mAbs Therapeutics in the 4th quarter valued at approximately $298,000. SG Americas Securities LLC boosted its stake in Y-mAbs Therapeutics by 17.5% during the 4th quarter. SG Americas Securities LLC now owns 21,559 shares of the company’s stock worth $147,000 after acquiring an additional 3,210 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Y-mAbs Therapeutics by 4.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,090 shares of the company’s stock valued at $178,000 after purchasing an additional 1,089 shares during the period. 70.85% of the stock is currently owned by institutional investors and hedge funds.

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.