Y-mAbs Therapeutics (NASDAQ:YMAB) Downgraded by Bank of America to “Underperform”

Bank of America downgraded shares of Y-mAbs Therapeutics (NASDAQ:YMAB) from a neutral rating to an underperform rating in a research report report published on Tuesday, MarketBeat.com reports. Bank of America currently has $3.00 price target on the stock.

Other equities analysts have also issued research reports about the stock. Wedbush restated an “outperform” rating and set a $23.00 target price on shares of Y-mAbs Therapeutics in a research report on Monday, March 3rd. Truist Financial cut their price objective on Y-mAbs Therapeutics from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Morgan Stanley decreased their target price on Y-mAbs Therapeutics from $11.00 to $7.00 and set an “underweight” rating on the stock in a research report on Wednesday, March 5th. Finally, HC Wainwright cut their price target on Y-mAbs Therapeutics from $22.00 to $12.00 and set a “buy” rating for the company in a report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $17.40.

Y-mAbs Therapeutics Price Performance

Shares of NASDAQ YMAB opened at $4.26 on Tuesday. Y-mAbs Therapeutics has a 1 year low of $3.84 and a 1 year high of $17.78. The stock has a market cap of $192.63 million, a PE ratio of -7.89 and a beta of 0.71. The firm has a fifty day moving average price of $5.00 and a 200-day moving average price of $8.35.

Y-mAbs Therapeutics (NASDAQ:YMAB) last released its quarterly earnings data on Tuesday, March 4th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The business had revenue of $26.50 million during the quarter, compared to the consensus estimate of $26.70 million. Y-mAbs Therapeutics had a negative return on equity of 24.61% and a negative net margin of 28.22%. During the same period last year, the company earned ($0.02) EPS. On average, research analysts expect that Y-mAbs Therapeutics will post -0.65 EPS for the current year.

Insider Transactions at Y-mAbs Therapeutics

In related news, insider Thomas Gad sold 10,810 shares of Y-mAbs Therapeutics stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $5.23, for a total transaction of $56,536.30. Following the completion of the transaction, the insider now directly owns 202,721 shares of the company’s stock, valued at approximately $1,060,230.83. The trade was a 5.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 22.50% of the company’s stock.

Institutional Trading of Y-mAbs Therapeutics

Several institutional investors have recently added to or reduced their stakes in YMAB. KLP Kapitalforvaltning AS purchased a new stake in shares of Y-mAbs Therapeutics in the fourth quarter worth approximately $46,000. ProShare Advisors LLC purchased a new stake in Y-mAbs Therapeutics in the fourth quarter worth $99,000. Wells Fargo & Company MN increased its stake in Y-mAbs Therapeutics by 54.1% in the fourth quarter. Wells Fargo & Company MN now owns 17,458 shares of the company’s stock worth $137,000 after purchasing an additional 6,131 shares during the period. SG Americas Securities LLC lifted its position in shares of Y-mAbs Therapeutics by 30.7% during the fourth quarter. SG Americas Securities LLC now owns 17,729 shares of the company’s stock worth $139,000 after purchasing an additional 4,163 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in shares of Y-mAbs Therapeutics during the third quarter valued at $267,000. Institutional investors own 70.85% of the company’s stock.

About Y-mAbs Therapeutics

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.