Insider Selling: I-Mab (NASDAQ:NBP) Insider Sells $79,903.72 in Stock

I-Mab (NASDAQ:NBP) insider Sean Wuxiong Cao sold 107,978 shares of the stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $0.74, for a total value of $79,903.72. Following the sale, the insider directly owned 266,467 shares of the company’s stock, valued at approximately $197,185.58. This trade represents a 28.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

I-Mab Stock Performance

Shares of I-Mab stock opened at $1.59 on Monday. I-Mab has a 52-week low of $1.46 and a 52-week high of $6.79. The company’s 50 day moving average price is $1.81 and its 200-day moving average price is $2.12. The stock has a market capitalization of $183.88 million, a price-to-earnings ratio of -4.42 and a beta of 1.50.

I-Mab (NASDAQ:NBP) last posted its quarterly earnings results on Thursday, August 20th. The company reported ($0.16) EPS for the quarter. As a group, equities research analysts forecast that I-Mab will post -0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On I-Mab

A hedge fund recently bought a new stake in I-Mab stock. Taikang Asset Management Hong Kong Co Ltd purchased a new stake in shares of I-Mab (NASDAQ:NBP) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 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. 38.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NBP shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of I-Mab in a report on Thursday, August 27th. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price target on shares of I-Mab in a research report on Thursday, August 20th. Finally, Wall Street Zen cut I-Mab from a “sell” rating to a “strong sell” rating in a report on Monday, September 7th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $9.00.

About I-Mab

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.