Morgan Stanley Has Lowered Expectations for Y-mAbs Therapeutics (NASDAQ:YMAB) Stock Price

Y-mAbs Therapeutics (NASDAQ:YMAB) had its target price trimmed by Morgan Stanley from $11.00 to $7.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has an underweight rating on the stock.

A number of other brokerages have also weighed in on YMAB. Brookline Capital Management assumed coverage on shares of Y-mAbs Therapeutics in a research report on Thursday, December 5th. They set a “buy” rating and a $17.00 target price for the company. Wedbush reiterated an “outperform” rating and set a $23.00 price objective on shares of Y-mAbs Therapeutics in a research report on Monday. HC Wainwright reiterated a “buy” rating and set a $22.00 price objective on shares of Y-mAbs Therapeutics in a research report on Monday, January 13th. Finally, Oppenheimer assumed coverage on shares of Y-mAbs Therapeutics in a research report on Monday, November 18th. They set an “outperform” rating and a $23.00 price objective for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Y-mAbs Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $19.30.

Y-mAbs Therapeutics Stock Performance

Shares of NASDAQ:YMAB opened at $4.85 on Wednesday. The firm has a fifty day moving average price of $6.46 and a 200 day moving average price of $10.62. Y-mAbs Therapeutics has a fifty-two week low of $4.25 and a fifty-two week high of $18.19. The firm has a market cap of $217.23 million, a price-to-earnings ratio of -8.98 and a beta of 0.65.

Y-mAbs Therapeutics (NASDAQ:YMAB) last issued its earnings results on Tuesday, March 4th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $26.50 million for the quarter, compared to the consensus estimate of $26.70 million. During the same quarter in the prior year, the company posted ($0.02) EPS. As a group, research analysts predict that Y-mAbs Therapeutics will post -0.65 earnings per share for the current year.

Institutional Investors Weigh In On Y-mAbs Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in YMAB. Principal Financial Group Inc. purchased a new stake in shares of Y-mAbs Therapeutics in the third quarter valued at $267,000. Intech Investment Management LLC purchased a new stake in shares of Y-mAbs Therapeutics in the third quarter valued at $133,000. Charles Schwab Investment Management Inc. raised its stake in shares of Y-mAbs Therapeutics by 9.4% in the third 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 during the period. FMR LLC raised its stake in shares of Y-mAbs Therapeutics by 23.1% in 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. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Y-mAbs Therapeutics in the 3rd quarter worth about $44,000. Hedge funds and other institutional investors own 70.85% of the company’s stock.

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.