I-Mab (NASDAQ:NBP) Trading 5.2% Higher – Here’s Why

I-Mab (NASDAQ:NBP) traded up 5.2% during mid-day trading on Monday . The company traded as high as $3.48 and last traded at $3.45. 506,071 shares changed hands during trading, an increase of 10% from the average session volume of 461,709 shares. The stock had previously closed at $3.28.

Analyst Ratings Changes

NBP has been the subject of several research analyst reports. Wall Street Zen raised shares of I-Mab from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. HC Wainwright lifted their target price on I-Mab from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Finally, Weiss Ratings began coverage on I-Mab in a research note on Thursday, February 5th. They issued a “sell (d-)” rating for the company. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, I-Mab currently has a consensus rating of “Hold” and an average price target of $9.00.

I-Mab Price Performance

The company has a market cap of $358.55 million, a PE ratio of -8.64 and a beta of 1.60.

I-Mab (NASDAQ:NBP) last posted its quarterly earnings data on Thursday, December 18th. The company reported ($0.07) earnings per share for the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in I-Mab stock. Taikang Asset Management Hong Kong Co Ltd purchased a new position in shares of I-Mab (NASDAQ:NBP) during the 4th quarter, according to its most recent Form 13F filing with the 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 approximately 0.11% of I-Mab at the end of the most recent reporting period. 38.38% of the stock is owned by hedge funds and other institutional investors.

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.