Y-mAbs Therapeutics (NASDAQ:YMAB) Shares Gap Down – Here’s Why

Y-mAbs Therapeutics, Inc. (NASDAQ:YMAB) shares gapped down before the market opened on Thursday . The stock had previously closed at $13.18, but opened at $12.89. Y-mAbs Therapeutics shares last traded at $12.32, with a volume of 25,075 shares trading hands.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $20.00 target price on shares of Y-mAbs Therapeutics in a report on Monday, September 9th. Wedbush reiterated an “outperform” rating and set a $23.00 price target on shares of Y-mAbs Therapeutics in a research note on Tuesday, September 10th. HC Wainwright restated a “buy” rating and issued a $22.00 price objective on shares of Y-mAbs Therapeutics in a research report on Friday. Canaccord Genuity Group reissued a “buy” rating and set a $26.00 target price on shares of Y-mAbs Therapeutics in a research note on Tuesday, August 13th. Finally, Morgan Stanley dropped their price target on Y-mAbs Therapeutics from $12.00 to $11.00 and set an “underweight” rating for the company in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Y-mAbs Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $21.14.

Y-mAbs Therapeutics Stock Down 3.9 %

The firm has a 50 day moving average price of $13.98 and a 200-day moving average price of $13.09.

Y-mAbs Therapeutics (NASDAQ:YMAB) last issued its earnings results on Friday, November 8th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.02). The company had revenue of $18.46 million for the quarter, compared to analysts’ expectations of $23.38 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 in the prior year, the firm posted ($0.18) earnings per share. On average, sell-side analysts predict that Y-mAbs Therapeutics, Inc. will post -0.64 earnings per share for the current fiscal year.

Insider Activity

In other Y-mAbs Therapeutics news, COO Joris Wilms sold 5,000 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $14.69, for a total transaction of $73,450.00. Following the completion of the sale, the chief operating officer now owns 30,600 shares in the company, valued at $449,514. This represents a 14.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas Gad sold 65,000 shares of Y-mAbs Therapeutics stock in a transaction on Friday, September 13th. The shares were sold at an average price of $13.47, for a total value of $875,550.00. Following the completion of the transaction, the insider now owns 97,681 shares in the company, valued at $1,315,763.07. This represents a 39.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 100,000 shares of company stock worth $1,338,100. Company insiders own 22.50% of the company’s stock.

Institutional Trading of Y-mAbs Therapeutics

Several hedge funds have recently modified their holdings of YMAB. Caligan Partners LP raised its stake in shares of Y-mAbs Therapeutics by 105.3% during the 3rd quarter. Caligan Partners LP now owns 1,195,253 shares of the company’s stock worth $15,718,000 after acquiring an additional 613,175 shares in the last quarter. State Street Corp increased its position in shares of Y-mAbs Therapeutics by 50.4% during the third quarter. State Street Corp now owns 1,209,781 shares of the company’s stock worth $15,909,000 after purchasing an additional 405,169 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in shares of Y-mAbs Therapeutics by 143.4% during the 2nd quarter. Squarepoint Ops LLC now owns 126,389 shares of the company’s stock valued at $1,527,000 after purchasing an additional 74,452 shares during the last quarter. Millennium Management LLC boosted its position in shares of Y-mAbs Therapeutics by 23.8% in the 2nd quarter. Millennium Management LLC now owns 349,784 shares of the company’s stock worth $4,225,000 after purchasing an additional 67,233 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Y-mAbs Therapeutics by 15.7% in the second quarter. Dimensional Fund Advisors LP now owns 484,431 shares of the company’s stock valued at $5,853,000 after buying an additional 65,732 shares during the last quarter. 70.85% of the stock is owned by hedge funds and other institutional investors.

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.