Yumanity Therapeutics (NASDAQ:YMTX) Downgraded to Hold at Zacks Investment Research

Yumanity Therapeutics (NASDAQ:YMTXGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Saturday, Zacks.com reports.

According to Zacks, “Yumanity Therapeutics Inc. is a clinical-stage biopharmaceutical company involved in the treatment of neurodegenerative diseases. The company’s product candidate includes YTX-7739.Yumanity Therapeutics Inc., formerly known as Proteostasis Therapeutics Inc., is based in BOSTON. “

Shares of NASDAQ:YMTX traded up $0.18 during midday trading on Friday, reaching $1.20. 48,592 shares of the company’s stock traded hands, compared to its average volume of 42,166. The company has a fifty day simple moving average of $1.33 and a two-hundred day simple moving average of $2.71. Yumanity Therapeutics has a 1 year low of $0.95 and a 1 year high of $16.89. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.88 and a current ratio of 1.88. The company has a market cap of $13.02 million, a P/E ratio of -0.28 and a beta of 0.88.

Yumanity Therapeutics (NASDAQ:YMTXGet Rating) last announced its earnings results on Thursday, March 24th. The company reported ($1.00) EPS for the quarter, meeting analysts’ consensus estimates of ($1.00). Yumanity Therapeutics had a negative return on equity of 108.22% and a negative net margin of 491.15%. The company had revenue of $0.76 million during the quarter, compared to analysts’ expectations of $1.81 million. As a group, research analysts forecast that Yumanity Therapeutics will post -4.42 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. Altium Capital Management LP grew its position in shares of Yumanity Therapeutics by 58.5% in the 3rd quarter. Altium Capital Management LP now owns 196,000 shares of the company’s stock worth $2,023,000 after acquiring an additional 72,307 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Yumanity Therapeutics by 168.7% in the 4th quarter. Renaissance Technologies LLC now owns 96,520 shares of the company’s stock worth $286,000 after acquiring an additional 60,601 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Yumanity Therapeutics by 272.7% in the 4th quarter. Acadian Asset Management LLC now owns 75,928 shares of the company’s stock worth $223,000 after acquiring an additional 55,557 shares during the last quarter. Stonepine Capital Management LLC grew its holdings in shares of Yumanity Therapeutics by 9.0% during the third quarter. Stonepine Capital Management LLC now owns 481,692 shares of the company’s stock valued at $4,971,000 after buying an additional 39,733 shares in the last quarter. Finally, Ensign Peak Advisors Inc purchased a new position in Yumanity Therapeutics in the third quarter valued at about $349,000. Hedge funds and other institutional investors own 27.71% of the company’s stock.

About Yumanity Therapeutics (Get Rating)

Yumanity Therapeutics Inc, a clinical stage biopharmaceutical company, engages in the research and development of treatments for neurodegenerative diseases caused by protein misfolding. The company focuses on discovering disease-modifying therapies to treat neurodegenerative diseases, including Parkinson's disease, dementia with Lewy bodies, multiple system atrophy, amyotrophic lateral sclerosis, and frontotemporal lobar degeneration.

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