Short Interest in Y-mAbs Therapeutics, Inc. (NASDAQ:YMAB) Drops By 16.1%

Y-mAbs Therapeutics, Inc. (NASDAQ:YMAB) was the recipient of a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 3,070,000 shares, a decline of 16.1% from the March 31st total of 3,660,000 shares. Currently, 8.9% of the shares of the company are sold short. Based on an average daily volume of 400,200 shares, the short-interest ratio is currently 7.7 days.

Y-mAbs Therapeutics Stock Performance

NASDAQ:YMAB opened at $4.41 on Friday. Y-mAbs Therapeutics has a fifty-two week low of $3.84 and a fifty-two week high of $17.47. The company’s 50-day simple moving average is $4.70 and its 200-day simple moving average is $7.79. The stock has a market capitalization of $199.67 million, a P/E ratio of -8.17 and a beta of 0.53.

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

Insider Activity

In other news, insider Thomas Gad sold 10,810 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $5.23, for a total value of $56,536.30. Following the transaction, the insider now owns 202,721 shares in the company, valued at $1,060,230.83. This represents a 5.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 22.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Barclays PLC boosted its holdings in Y-mAbs Therapeutics by 433.4% in the third quarter. Barclays PLC now owns 69,222 shares of the company’s stock valued at $910,000 after purchasing an additional 56,244 shares during the last quarter. Principal Financial Group Inc. purchased a new position in Y-mAbs Therapeutics during the third quarter valued at $267,000. JPMorgan Chase & Co. increased its stake in Y-mAbs Therapeutics by 10.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 30,335 shares of the company’s stock worth $399,000 after buying an additional 2,854 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Y-mAbs Therapeutics by 30.7% in the fourth quarter. SG Americas Securities LLC now owns 17,729 shares of the company’s stock worth $139,000 after acquiring an additional 4,163 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Y-mAbs Therapeutics by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 284,540 shares of the company’s stock worth $2,228,000 after purchasing an additional 4,963 shares in the last quarter. 70.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

YMAB has been the subject of several recent analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $23.00 target price on shares of Y-mAbs Therapeutics in a report on Monday, March 3rd. Truist Financial lowered their target price on shares of Y-mAbs Therapeutics from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Morgan Stanley dropped their price objective on shares of Y-mAbs Therapeutics from $11.00 to $7.00 and set an “underweight” rating for the company in a report on Wednesday, March 5th. Bank of America cut Y-mAbs Therapeutics from a “neutral” rating to an “underperform” rating and set a $3.00 price target for the company. in a report on Tuesday, April 22nd. Finally, HC Wainwright dropped their target price 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 given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Y-mAbs Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $17.40.

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.