Advertisement
UK markets closed
  • FTSE 100

    8,420.26
    -18.39 (-0.22%)
     
  • FTSE 250

    20,749.90
    -72.94 (-0.35%)
     
  • AIM

    794.02
    +1.52 (+0.19%)
     
  • GBP/EUR

    1.1678
    +0.0023 (+0.20%)
     
  • GBP/USD

    1.2706
    +0.0035 (+0.28%)
     
  • Bitcoin GBP

    52,792.55
    +120.05 (+0.23%)
     
  • CMC Crypto 200

    1,373.42
    -0.43 (-0.03%)
     
  • S&P 500

    5,303.27
    +6.17 (+0.12%)
     
  • DOW

    40,003.59
    +134.21 (+0.34%)
     
  • CRUDE OIL

    80.00
    +0.77 (+0.97%)
     
  • GOLD FUTURES

    2,419.80
    +34.30 (+1.44%)
     
  • NIKKEI 225

    38,787.38
    -132.88 (-0.34%)
     
  • HANG SENG

    19,553.61
    +177.08 (+0.91%)
     
  • DAX

    18,704.42
    -34.39 (-0.18%)
     
  • CAC 40

    8,167.50
    -20.99 (-0.26%)
     

YmAbs Therapeutics (YMAB) Surges 8.2%: Is This an Indication of Further Gains?

Y-mAbs Therapeutics, Inc. (YMAB) shares rallied 8.2% in the last trading session to close at $14.89. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 15.5% loss over the past four weeks.

Last month, the company announced robust financial results for the fourth quarter and full-year ended 2023. This might have been driving the share price rally.

This company is expected to post quarterly loss of $0.12 per share in its upcoming report, which represents a year-over-year change of +20%. Revenues are expected to be $22.06 million, up 8.9% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

ADVERTISEMENT

For YmAbs Therapeutics, the consensus EPS estimate for the quarter has been revised 39.8% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on YMAB going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

YmAbs Therapeutics belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Merus N.V. (MRUS), closed the last trading session 1.6% higher at $45.01. Over the past month, MRUS has returned -3.7%.

Merus' consensus EPS estimate for the upcoming report has changed -11.1% over the past month to -$0.79. Compared to the company's year-ago EPS, this represents a change of +8.1%. Merus currently boasts a Zacks Rank of #3 (Hold).

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Y-mAbs Therapeutics, Inc. (YMAB) : Free Stock Analysis Report

Merus N.V. (MRUS) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research