Zacks Investment Research upgraded shares of Y-mAbs Therapeutics (NASDAQ:YMAB) from a hold rating to a buy rating in a research report sent to investors on Saturday morning, Zacks.com reports. The firm currently has $26.00 target price on the stock.
According to Zacks, “Y-mAbs Therapeutics Inc. is a biopharmaceutical company. It focused on the development and commercialization of novel, antibody-based therapeutic products for the treatment of cancer. The company’s product pipeline consists of naxitamab and omburtamab which are in clinical stage. Y-mAbs Therapeutics Inc. is based in NEW YORK, USA. “
Other analysts also recently issued research reports about the company. HC Wainwright restated a buy rating and issued a $40.00 price target (up previously from $36.00) on shares of Y-mAbs Therapeutics in a research note on Monday, June 10th. Cowen restated a buy rating on shares of Y-mAbs Therapeutics in a research note on Monday, July 1st. Six equities research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of Buy and a consensus price target of $31.40.
Y-mAbs Therapeutics (NASDAQ:YMAB) last posted its quarterly earnings results on Friday, May 10th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.07). Research analysts forecast that Y-mAbs Therapeutics will post -1.95 earnings per share for the current year.
In related news, insider Thomas Gad sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $20.21, for a total value of $121,260.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 36,000 shares of company stock worth $770,160 in the last 90 days. 38.40% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of YMAB. BNP Paribas Arbitrage SA purchased a new stake in Y-mAbs Therapeutics during the 1st quarter valued at $38,000. Citigroup Inc. purchased a new stake in Y-mAbs Therapeutics during the 4th quarter valued at $37,000. TD Asset Management Inc. boosted its stake in Y-mAbs Therapeutics by 11.5% during the 2nd quarter. TD Asset Management Inc. now owns 25,453 shares of the company’s stock valued at $582,000 after purchasing an additional 2,624 shares during the last quarter. American International Group Inc. purchased a new stake in Y-mAbs Therapeutics during the 4th quarter valued at $93,000. Finally, Bank of America Corp DE boosted its stake in Y-mAbs Therapeutics by 3,056.5% during the 4th quarter. Bank of America Corp DE now owns 6,029 shares of the company’s stock valued at $122,000 after purchasing an additional 5,838 shares during the last quarter. Institutional investors own 24.80% of the company’s stock.
About Y-mAbs Therapeutics
Y-mAbs Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel antibody-based therapeutic products for the treatment cancer in the United States. It is developing naxitamab for the treatment of pediatric patients with relapsed or refractory, high-risk neuroblastoma, as well as other GD2 positive tumors; and omburtamab for the treatment of pediatric patients with central nervous system, leptomeningeal metastases, desmoplastic small round cell tumors, diffuse intrinsic pontine glioma, and other B7-H3 positive tumors.
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