I-Mab (NASDAQ:NBP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of I-Mab (NASDAQ:NBP) from a strong sell rating to a sell rating in a research report released on Tuesday morning,Wall Street Zen reports.

A number of other analysts also recently commented on NBP. HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of I-Mab in a report on Thursday, August 20th. Weiss Ratings restated a “sell (d-)” rating on shares of I-Mab in a report on Thursday, August 27th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, I-Mab currently has a consensus rating of “Hold” and a consensus price target of $9.00.

I-Mab Stock Up 3.8%

NASDAQ:NBP opened at $1.63 on Tuesday. The business’s 50-day moving average price is $1.78 and its 200 day moving average price is $2.07. The firm has a market cap of $188.51 million, a P/E ratio of -4.53 and a beta of 1.50. I-Mab has a 52-week low of $1.46 and a 52-week high of $6.79.

I-Mab (NASDAQ:NBP) last issued its quarterly earnings results on Thursday, August 20th. The company reported ($0.16) earnings per share for the quarter. Sell-side analysts expect that I-Mab will post -0.3 EPS for the current year.

Insider Buying and Selling at I-Mab

In other news, insider Sean Wuxiong Cao sold 107,978 shares of I-Mab 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 transaction, the insider directly owned 266,467 shares of the company’s stock, valued at $197,185.58. This trade represents a 28.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 115,745 shares of company stock valued at $86,488 over the last quarter. Company insiders own 22.10% of the company’s stock.

Institutional Investors Weigh In On I-Mab

A hedge fund recently bought a new position in I-Mab stock. Taikang Asset Management Hong Kong Co Ltd acquired a new position in shares of I-Mab (NASDAQ:NBP) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 128,765 shares of the company’s stock, valued at approximately $512,000. Taikang Asset Management Hong Kong Co Ltd owned approximately 0.11% of I-Mab as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 38.38% of the company’s stock.

I-Mab Company Profile

I-Mab is a biotechnology company focused on discovering, developing and commercializing innovative biologic medicines, with an emphasis on cancer and other serious diseases. The company’s research programs are primarily based on monoclonal antibodies, bispecific antibodies and other immune-based therapies designed to target tumor cells or modify the immune response.

I-Mab’s pipeline has included givastomig (also known as TJ-CD4B), a bispecific antibody designed to target Claudin 18.2 and activate 4-1BB immune signaling.