Yuanbao (NASDAQ:YB) Shares Gap Up – Here’s Why

Shares of Yuanbao Inc. – Sponsored ADR (NASDAQ:YB) gapped up before the market opened on Wednesday . The stock had previously closed at $20.65, but opened at $22.51. Yuanbao shares last traded at $22.54, with a volume of 42,590 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Yuanbao in a research note on Monday. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold”.

Yuanbao Price Performance

The firm has a 50-day moving average of $21.32. The stock has a market cap of $950.74 million and a price-to-earnings ratio of 11.78.

Institutional Trading of Yuanbao

Several hedge funds have recently bought and sold shares of YB. WFM ASIA BVI Ltd purchased a new position in shares of Yuanbao during the second quarter valued at about $2,020,000. Susquehanna International Group LLP bought a new position in Yuanbao during the third quarter valued at approximately $59,613,000. JPMorgan Chase & Co. grew its holdings in Yuanbao by 53.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,226 shares of the company’s stock valued at $653,000 after buying an additional 11,607 shares in the last quarter. Finally, Federated Hermes Inc. bought a new stake in Yuanbao in the 2nd quarter worth approximately $370,000.

About Yuanbao

Our mission is to protect health and well-being through technology. We are a leading technology-driven online insurance distributor in China. We take pride in pioneering the seamless integration of insurance with cutting-edge technologies, and have constructed a highly efficient full consumer service cycle engine.