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Gad Thomas, the Chief Business Officer of Y-mAbs Therapeutics, Inc. (NASDAQ:YMAB), recently sold company shares valued at approximately $56,536. The transaction, which took place on March 7, involved the sale of 10,810 shares at a weighted average price of $5.23 per share. According to InvestingPro data, YMAB’s stock has declined nearly 63% over the past six months, though analysis suggests the stock is currently undervalued. This sale was part of a nondiscretionary transaction to cover tax liabilities associated with the vesting and settlement of restricted stock units.
Following this transaction, Thomas retains direct ownership of 202,721 shares. Additionally, he holds indirect ownership of 67,681 shares through GAD Enterprises LLC and 60,000 shares owned by his children. The sale and subsequent holdings reflect Thomas’s ongoing investment in Y-mAbs Therapeutics, a company involved in the development of innovative cancer treatments.
In other recent news, Y-mAbs Therapeutics announced its fiscal year 2024 revenue of $87.7 million, aligning with market expectations. However, the company’s guidance for 2025 suggests revenues between $75 million and $90 million, which falls short of earlier projections. In response, Jones Trading reduced its price target to $18 while maintaining a Buy rating, citing confidence in the company’s long-term potential. Similarly, Cantor Fitzgerald lowered its target to $19, keeping an Overweight rating, while BofA Securities adjusted its target to $12, maintaining a Neutral stance. Morgan Stanley (NYSE:MS) also revised its target to $7, citing challenges faced by Danyelza, a key product in Y-mAbs’s portfolio, and maintained an Underweight rating.
Additionally, Y-mAbs Therapeutics entered an Equity Distribution Agreement with Oppenheimer & Co. Inc. to potentially offer up to $35 million in common stock, allowing for flexible financing options. The company is progressing with its business realignment and plans to update its SADA program strategy in 2025. The firm’s focus on its radiopharmaceutical platform is expected to play a significant role in its future performance.
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