Y-mAbs Therapeutics (NASDAQ:YMAB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Zacks.com reports. The firm presently has a $47.00 price objective on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 20.20% from the stock’s current price.
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. “
Several other research analysts have also issued reports on YMAB. Morgan Stanley raised their price target on Y-mAbs Therapeutics from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 12th. Wedbush raised their price target on Y-mAbs Therapeutics from $52.00 to $71.00 and gave the stock an “outperform” rating in a research report on Thursday, December 17th. HC Wainwright lifted their target price on Y-mAbs Therapeutics from $52.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, November 9th. Bank of America lowered Y-mAbs Therapeutics from a “buy” rating to a “neutral” rating and set a $56.00 target price on the stock. in a report on Friday, January 15th. Finally, Barclays lifted their price target on Y-mAbs Therapeutics from $55.00 to $65.00 and gave the company an “overweight” rating in a research note on Thursday, December 17th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Y-mAbs Therapeutics presently has an average rating of “Buy” and a consensus price target of $56.71.
In related news, CEO Pedro Claus Juan Moller-San sold 40,734 shares of Y-mAbs Therapeutics stock in a transaction dated Wednesday, December 2nd. The stock was sold at an average price of $51.27, for a total value of $2,088,432.18. Following the sale, the chief executive officer now owns 15,625 shares of the company’s stock, valued at $801,093.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Thomas Gad sold 7,000 shares of Y-mAbs Therapeutics stock in a transaction dated Tuesday, January 19th. The shares were sold at an average price of $46.51, for a total value of $325,570.00. Following the completion of the sale, the insider now directly owns 7,000 shares in the company, valued at approximately $325,570. The disclosure for this sale can be found here. In the last ninety days, insiders sold 128,734 shares of company stock worth $6,542,232. 38.40% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its position in Y-mAbs Therapeutics by 1.5% during the third quarter. BlackRock Inc. now owns 2,345,757 shares of the company’s stock worth $90,053,000 after buying an additional 33,965 shares during the last quarter. Federated Hermes Inc. increased its position in Y-mAbs Therapeutics by 22.9% during the third quarter. Federated Hermes Inc. now owns 109,152 shares of the company’s stock worth $4,190,000 after buying an additional 20,344 shares during the last quarter. Nisa Investment Advisors LLC acquired a new position in Y-mAbs Therapeutics during the third quarter worth approximately $44,000. State Street Corp increased its position in Y-mAbs Therapeutics by 9.9% during the third quarter. State Street Corp now owns 1,049,936 shares of the company’s stock worth $40,307,000 after buying an additional 94,347 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in Y-mAbs Therapeutics by 1,355.7% during the third quarter. SG Americas Securities LLC now owns 77,486 shares of the company’s stock worth $2,975,000 after buying an additional 72,163 shares during the last quarter. 53.20% of the stock is currently owned by hedge funds and other institutional investors.
Y-mAbs Therapeutics Company Profile
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. The company develops naxitamab that is in Phase 2 clinical trial for the treatment of pediatric patients with relapsed steosarcoma or refractory, and high-risk neuroblastoma, as well as other GD2 positive tumors; and GD2-GD3 Vaccine which is in Phase 2 clinical trial for the treatment of high-risk neuroblastoma.
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