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YmAbs Therapeutics, Inc. (YMAB) Soars 8.3%: Is Further Upside Left in the Stock?

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YmAbs Therapeutics, Inc. (YMAB - Free Report) shares soared 8.3% in the last trading session to close at $9.89. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 43.7% loss over the past four weeks.

The rise is most likely attributable to positive investor expectations on outcome of the pre-BLA meeting with FDA, which was expected to happen last month, for its pipeline candidate, omburtamab.

This company is expected to post quarterly loss of $0.71 per share in its upcoming report, which represents a year-over-year change of -44.9%. Revenues are expected to be $10.6 million, down 48.9% 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.

For YmAbs Therapeutics, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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 #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

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