I-Mab (NASDAQ:NBP) Upgraded to Sell 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 note issued to investors on Tuesday,Wall Street Zen reports.

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

I-Mab Trading Down 1.2%

I-Mab stock opened at $1.59 on Tuesday. The stock has a 50 day moving average of $1.79 and a 200-day moving average of $2.10. The stock has a market cap of $183.88 million, a P/E ratio of -4.42 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 posted its quarterly earnings data on Thursday, August 20th. The company reported ($0.16) EPS for the quarter. As a group, equities analysts predict that I-Mab will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other I-Mab news, insider Sean Wuxiong Cao sold 107,978 shares of the company’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $0.74, for a total value of $79,903.72. Following the completion of the sale, the insider directly owned 266,467 shares of the company’s stock, valued at approximately $197,185.58. This represents a 28.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 124,239 shares of company stock valued at $92,094 in the last quarter. 22.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in I-Mab stock. Taikang Asset Management Hong Kong Co Ltd purchased a new stake in shares of I-Mab (NASDAQ:NBP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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. Institutional investors and hedge funds 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.