Y-mAbs Therapeutics, Inc’s Lock-Up Period Will Expire on March 20th (NASDAQ:YMAB)

Y-mAbs Therapeutics’ (NASDAQ:YMAB) lock-up period will expire on Wednesday, March 20th. Y-mAbs Therapeutics had issued 6,000,000 shares in its IPO on September 21st. The total size of the offering was $96,000,000 based on an initial share price of $16.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the expiration of the lock-up period.

Separately, Zacks Investment Research downgraded Y-mAbs Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $28.50.

Shares of NASDAQ:YMAB opened at $21.65 on Wednesday. Y-mAbs Therapeutics has a one year low of $15.17 and a one year high of $31.00.

Several large investors have recently made changes to their positions in the stock. Citigroup Inc. purchased a new stake in shares of Y-mAbs Therapeutics during the 4th quarter valued at about $37,000. Strs Ohio purchased a new stake in shares of Y-mAbs Therapeutics during the 4th quarter valued at about $38,000. American International Group Inc. purchased a new stake in shares of Y-mAbs Therapeutics during the 4th quarter valued at about $93,000. Point72 Asset Management L.P. purchased a new stake in shares of Y-mAbs Therapeutics during the 3rd quarter valued at about $133,000. Finally, Bank of America Corp DE raised its holdings in shares of 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 buying an additional 5,838 shares during the period. Institutional investors and hedge funds own 23.38% of the company’s stock.

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About Y-mAbs Therapeutics

Y-mAbs Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel antibody therapeutic products for cancer treatment 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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