Truist Financial Cuts Y-mAbs Therapeutics (NASDAQ:YMAB) Price Target to $18.00

Y-mAbs Therapeutics (NASDAQ:YMAB) had its target price lowered by equities researchers at Truist Financial from $21.00 to $18.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective points to a potential upside of 288.35% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Bank of America decreased their price target on shares of Y-mAbs Therapeutics from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday. HC Wainwright reiterated a “buy” rating and issued a $22.00 price target on shares of Y-mAbs Therapeutics in a research report on Monday, January 13th. Brookline Capital Management initiated coverage on Y-mAbs Therapeutics in a research report on Thursday, December 5th. They set a “buy” rating and a $17.00 price target on the stock. Wedbush restated an “outperform” rating and set a $23.00 price objective on shares of Y-mAbs Therapeutics in a research note on Monday. Finally, Morgan Stanley cut 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.30.

Y-mAbs Therapeutics Trading Down 6.6 %

Shares of NASDAQ:YMAB traded down $0.33 during trading on Wednesday, reaching $4.64. 195,646 shares of the stock were exchanged, compared to its average volume of 467,754. Y-mAbs Therapeutics has a 12 month low of $4.25 and a 12 month high of $18.19. The stock has a 50-day moving average price of $6.46 and a 200-day moving average price of $10.62. The firm has a market cap of $207.60 million, a PE ratio of -8.58 and a beta of 0.65.

Y-mAbs Therapeutics (NASDAQ:YMAB) last released its quarterly 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). The firm had revenue of $26.50 million during the quarter, compared to the consensus estimate 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 quarter last year, the firm earned ($0.02) earnings per share. On average, sell-side analysts expect that Y-mAbs Therapeutics will post -0.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Y-mAbs Therapeutics

A number of institutional investors have recently modified their holdings of YMAB. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Y-mAbs Therapeutics in the third quarter valued at about $44,000. KLP Kapitalforvaltning AS acquired a new position in Y-mAbs Therapeutics during the 4th quarter worth approximately $46,000. ProShare Advisors LLC acquired a new position in Y-mAbs Therapeutics during the 4th quarter worth approximately $99,000. Intech Investment Management LLC bought a new position in Y-mAbs Therapeutics in the 3rd quarter valued at approximately $133,000. Finally, Wells Fargo & Company MN boosted its position in Y-mAbs Therapeutics by 54.1% in the fourth quarter. Wells Fargo & Company MN now owns 17,458 shares of the company’s stock valued at $137,000 after buying an additional 6,131 shares in the last quarter. 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.