Y-mAbs Therapeutics, Inc. (NASDAQ:YMAB) Sees Large Decline in Short Interest

Y-mAbs Therapeutics, Inc. (NASDAQ:YMAB - Get Free Report) saw a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 3,660,000 shares, a drop of 17.6% from the March 15th total of 4,440,000 shares. Approximately 10.6% of the company's stock are short sold. Based on an average daily trading volume, of 426,500 shares, the days-to-cover ratio is presently 8.6 days.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on YMAB. HC Wainwright lowered their price target on shares of Y-mAbs Therapeutics from $22.00 to $12.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Morgan Stanley cut their price target on shares of Y-mAbs Therapeutics from $11.00 to $7.00 and set an "underweight" rating on the stock in a report on Wednesday, March 5th. Truist Financial decreased their price objective on Y-mAbs Therapeutics from $21.00 to $18.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. Wedbush restated an "outperform" rating and set a $23.00 target price on shares of Y-mAbs Therapeutics in a research note on Monday, March 3rd. Finally, 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 research note on Tuesday. Two research analysts have rated the stock with a sell rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $17.40.

Y-mAbs Therapeutics Stock Performance

NASDAQ YMAB traded down $0.18 during trading hours on Thursday, reaching $3.94. The stock had a trading volume of 41,910 shares, compared to its average volume of 327,390. Y-mAbs Therapeutics has a 52-week low of $3.84 and a 52-week high of $17.78. The stock has a fifty day moving average of $4.95 and a 200 day moving average of $8.32. The stock has a market cap of $178.07 million, a P/E ratio of -7.34 and a beta of 0.71.

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

Insider Activity at Y-mAbs Therapeutics

In related news, insider Thomas Gad sold 10,810 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $5.23, for a total transaction of $56,536.30. Following the completion of the sale, the insider now directly 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 SEC, which is available through this link. 22.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Y-mAbs Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. KLP Kapitalforvaltning AS acquired a new position in Y-mAbs Therapeutics in the fourth quarter valued at approximately $46,000. ProShare Advisors LLC acquired a new position in shares of Y-mAbs Therapeutics in the 4th quarter valued at $99,000. Exchange Traded Concepts LLC lifted its stake in shares of Y-mAbs Therapeutics by 107.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 26,762 shares of the company's stock valued at $119,000 after purchasing an additional 13,890 shares during the period. Wells Fargo & Company MN boosted its holdings in Y-mAbs Therapeutics by 54.1% during the fourth quarter. Wells Fargo & Company MN now owns 17,458 shares of the company's stock worth $137,000 after buying an additional 6,131 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in Y-mAbs Therapeutics by 30.7% during the fourth quarter. SG Americas Securities LLC now owns 17,729 shares of the company's stock valued at $139,000 after buying an additional 4,163 shares during the period. Institutional investors and hedge funds 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.