Y-mAbs Therapeutics (NASDAQ:YMAB) Trading Down 8.5% – Here’s What Happened

Shares of Y-mAbs Therapeutics, Inc. (NASDAQ:YMAB) fell 8.5% during mid-day trading on Tuesday . The company traded as low as $13.59 and last traded at $13.60. 160,285 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 329,598 shares. The stock had previously closed at $14.87.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on YMAB shares. Morgan Stanley lowered their price target on shares of Y-mAbs Therapeutics from $12.00 to $11.00 and set an “underweight” rating for the company in a research report on Tuesday, August 13th. Canaccord Genuity Group upgraded Y-mAbs Therapeutics to a “strong-buy” rating in a research report on Tuesday, August 13th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $26.00 target price on shares of Y-mAbs Therapeutics in a research note on Tuesday, August 13th. Cantor Fitzgerald reissued an “overweight” rating and set a $20.00 price target on shares of Y-mAbs Therapeutics in a report on Monday, September 9th. Finally, BMO Capital Markets reduced their price target on shares of Y-mAbs Therapeutics from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.14.

Y-mAbs Therapeutics Trading Down 12.1 %

The business’s 50-day simple moving average is $14.03 and its 200-day simple moving average is $13.12. The company has a market cap of $519.10 million, a PE ratio of -21.46 and a beta of 0.68.

Y-mAbs Therapeutics (NASDAQ:YMAB) last announced its quarterly earnings data on Friday, November 8th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.02). Y-mAbs Therapeutics had a negative return on equity of 24.61% and a negative net margin of 28.22%. The firm had revenue of $18.46 million for the quarter, compared to analysts’ expectations of $23.38 million. During the same quarter in the prior year, the business posted ($0.18) earnings per share. On average, research analysts predict that Y-mAbs Therapeutics, Inc. will post -0.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Y-mAbs Therapeutics news, insider Thomas Gad sold 65,000 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $13.47, for a total transaction of $875,550.00. Following the transaction, the insider now owns 97,681 shares in the company, valued at $1,315,763.07. This trade represents a 39.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 sale, the chief operating officer now directly owns 30,600 shares of the company’s stock, valued at approximately $449,514. This represents a 14.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,000 shares of company stock worth $1,338,100. Insiders own 22.50% of the company’s stock.

Institutional Trading of Y-mAbs Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Y-mAbs Therapeutics in the 3rd quarter worth $44,000. FMR LLC increased its stake in Y-mAbs Therapeutics by 23.1% during the third quarter. FMR LLC now owns 36,416 shares of the company’s stock valued at $479,000 after acquiring an additional 6,822 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Y-mAbs Therapeutics by 9.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 279,577 shares of the company’s stock valued at $3,676,000 after acquiring an additional 23,982 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Y-mAbs Therapeutics in the 3rd quarter worth approximately $133,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of Y-mAbs Therapeutics during the 3rd quarter worth approximately $267,000. Institutional investors 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.