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

Y-mAbs Therapeutics (NASDAQ:YMAB - Get Free Report) was downgraded by equities researchers at Bank of America from a "neutral" rating to an "underperform" rating in a note issued to investors on Tuesday,Finviz reports. They presently have a $3.00 price objective on the stock. Bank of America's price target would suggest a potential downside of 37.76% from the company's previous close.

YMAB has been the subject of a number of other reports. Truist Financial reduced their price target on shares of 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 for the company in a research report on Wednesday, March 5th. HC Wainwright dropped their price target on Y-mAbs Therapeutics from $22.00 to $12.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Finally, Wedbush reiterated an "outperform" rating and issued a $23.00 price objective on shares of Y-mAbs Therapeutics in a research note on Monday, March 3rd. Two 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 company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $17.40.

Y-mAbs Therapeutics Stock Performance

NASDAQ YMAB opened at $4.82 on Tuesday. Y-mAbs Therapeutics has a one year low of $3.86 and a one year high of $17.78. The firm has a 50 day simple moving average of $5.03 and a 200-day simple moving average of $8.38. The firm has a market cap of $217.95 million, a price-to-earnings ratio of -8.93 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 for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The firm had revenue of $26.50 million during the quarter, compared to analyst estimates of $26.70 million. Y-mAbs Therapeutics had a negative net margin of 28.22% and a negative return on equity of 24.61%. During the same period last year, the business earned ($0.02) EPS. Equities analysts predict that Y-mAbs Therapeutics will post -0.65 EPS for the current fiscal year.

Insider Activity at Y-mAbs Therapeutics

In related news, insider Thomas Gad sold 10,810 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $5.23, for a total value of $56,536.30. Following the completion of the sale, the insider now owns 202,721 shares in the company, valued at $1,060,230.83. This trade represents a 5.06 % decrease in their ownership of the stock. 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 currently owned by insiders.

Hedge Funds Weigh In On Y-mAbs Therapeutics

Large investors have recently modified their holdings of the business. Principal Financial Group Inc. boosted its stake in shares of Y-mAbs Therapeutics by 9.4% in the fourth quarter. Principal Financial Group Inc. now owns 22,197 shares of the company's stock valued at $174,000 after buying an additional 1,903 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Y-mAbs Therapeutics by 4.8% during the 1st quarter. Rhumbline Advisers now owns 53,909 shares of the company's stock worth $239,000 after purchasing an additional 2,457 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Y-mAbs Therapeutics by 12.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,818 shares of the company's stock worth $179,000 after purchasing an additional 2,545 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Y-mAbs Therapeutics by 10.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 30,335 shares of the company's stock valued at $399,000 after purchasing an additional 2,854 shares in the last quarter. Finally, SG Americas Securities LLC lifted 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 valued at $139,000 after purchasing an additional 4,163 shares during the period. 70.85% of the stock is owned by hedge funds and other institutional investors.

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.

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