HC Wainwright Reaffirms Buy Rating for I-Mab (NASDAQ:NBP)

I-Mab (NASDAQ:NBP)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a research note issued to investors on Thursday,Benzinga reports. They currently have a $9.00 price target on the stock. HC Wainwright’s price target indicates a potential upside of 395.87% from the company’s current price.

Separately, Weiss Ratings upgraded shares of I-Mab from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $9.00.

I-Mab Stock Performance

Shares of NASDAQ NBP traded down $0.17 during trading on Thursday, hitting $1.81. 283,917 shares of the company were exchanged, compared to its average volume of 751,332. I-Mab has a 1 year low of $1.46 and a 1 year high of $6.79. The stock has a fifty day moving average price of $1.77. The stock has a market cap of $209.90 million, a P/E ratio of -5.04 and a beta of 1.47.

I-Mab (NASDAQ:NBP) last announced its quarterly earnings results on Thursday, August 20th. The company reported ($0.16) earnings per share for the quarter. As a group, sell-side analysts forecast that I-Mab will post -0.56 earnings per share for the current year.

Institutional Investors Weigh In On I-Mab

An institutional investor recently bought a new stake in I-Mab stock. Taikang Asset Management Hong Kong Co Ltd bought a new stake in I-Mab (NASDAQ:NBP) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 128,765 shares of the company’s stock, valued at approximately $512,000. Taikang Asset Management Hong Kong Co Ltd owned 0.11% of I-Mab at the end of the most recent reporting period. Institutional investors and hedge funds own 38.38% of the company’s stock.

I-Mab Company Profile

I-Mab is a clinical-stage biotechnology company focused on the discovery, development and commercialization of biologic therapies for oncology and immunology indications. The company concentrates on advancing antibody-based therapeutics and other protein biologics intended to modulate the immune system to treat cancer and autoimmune or inflammatory diseases. Its development activities span preclinical research through late-stage clinical trials, with an emphasis on creating targeted, differentiated molecules designed to address unmet medical needs.

Headquartered in China with global development activities, I-Mab operates research and development facilities and engages with clinical investigators and regulatory authorities across multiple geographies to support global clinical programs.