Y-mAbs Therapeutics (NASDAQ:YMAB) Upgraded to Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of Y-mAbs Therapeutics (NASDAQ:YMAB) from a hold rating to a buy rating in a research note issued to investors on Saturday morning, Zacks.com reports. The brokerage currently has $34.00 target price on the stock.

According to Zacks, “Y-mAbs Therapeutics Inc. is a biopharmaceutical company. It focused on the development and commercialization of novel, antibody-based therapeutic products for the treatment of cancer. The company’s product pipeline consists of naxitamab and omburtamab which are in clinical stage. Y-mAbs Therapeutics Inc. is based in NEW YORK, USA. “

YMAB has been the subject of several other research reports. ValuEngine upgraded Y-mAbs Therapeutics from a sell rating to a hold rating in a research report on Friday, November 1st. Cowen reiterated a buy rating on shares of Y-mAbs Therapeutics in a research report on Monday, October 28th. HC Wainwright reiterated a buy rating on shares of Y-mAbs Therapeutics in a research report on Monday, November 4th. Wedbush started coverage on Y-mAbs Therapeutics in a research report on Tuesday, September 3rd. They set an outperform rating and a $38.00 target price for the company. Finally, Canaccord Genuity increased their target price on Y-mAbs Therapeutics from $35.00 to $40.00 and gave the stock a buy rating in a research report on Monday, October 28th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $38.75.

Shares of Y-mAbs Therapeutics stock traded down $0.82 during trading on Friday, hitting $28.68. 124,400 shares of the company’s stock traded hands, compared to its average volume of 138,802. The company has a debt-to-equity ratio of 0.02, a current ratio of 9.04 and a quick ratio of 9.04. Y-mAbs Therapeutics has a 1 year low of $15.17 and a 1 year high of $32.90. The business has a 50-day simple moving average of $27.92 and a 200-day simple moving average of $24.71. The stock has a market capitalization of $1.04 billion, a P/E ratio of -19.12 and a beta of 1.19.

Y-mAbs Therapeutics (NASDAQ:YMAB) last released its earnings results on Wednesday, August 14th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.05). On average, equities analysts predict that Y-mAbs Therapeutics will post -2.08 earnings per share for the current fiscal year.

In other Y-mAbs Therapeutics news, Chairman Thomas Gad sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $30.01, for a total transaction of $120,040.00. Also, Director Johan Wedell-Wedellsborg sold 89,166 shares of the firm’s 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 disclosure for this sale can be found here. Insiders have sold a total of 355,260 shares of company stock valued at $9,615,535 in the last 90 days. 38.40% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can purchased a new position in Y-mAbs Therapeutics during the 2nd quarter valued at approximately $39,000. California Public Employees Retirement System purchased a new position in shares of Y-mAbs Therapeutics in the 3rd quarter worth approximately $254,000. Swiss National Bank purchased a new position in shares of Y-mAbs Therapeutics in the 2nd quarter worth approximately $290,000. Tuttle Tactical Management purchased a new position in shares of Y-mAbs Therapeutics in the 3rd quarter worth approximately $309,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of Y-mAbs Therapeutics by 422.2% in the 2nd quarter. Wells Fargo & Company MN now owns 19,203 shares of the company’s stock worth $438,000 after purchasing an additional 15,526 shares during the period. Institutional investors and hedge funds own 31.78% of the company’s stock.

Y-mAbs Therapeutics Company Profile

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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