I-Mab (NASDAQ:NBP) Insider Sean Wuxiong Cao Sells 107,978 Shares

I-Mab (NASDAQ:NBP) insider Sean Wuxiong Cao sold 107,978 shares of the business’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $0.74, for a total transaction of $79,903.72. Following the transaction, the insider directly owned 266,467 shares in the company, valued at approximately $197,185.58. The trade was a 28.84% decrease in their ownership of the stock. The sale was disclosed in a document filed 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.

I-Mab Trading Down 5.9%

Shares of I-Mab stock opened at $1.59 on Friday. I-Mab has a 12 month low of $1.46 and a 12 month high of $6.79. The business has a fifty day simple moving average of $1.81 and a two-hundred day simple moving average of $2.13. The firm has a market capitalization of $183.88 million, a P/E ratio of -4.42 and a beta of 1.50.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NBP. Wall Street Zen cut shares of I-Mab from a “sell” rating to a “strong sell” rating in a report on Monday, September 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of I-Mab in a research note on Thursday, August 27th. Finally, HC Wainwright reissued a “buy” rating and set a $9.00 price target on shares of I-Mab in a report on Thursday, August 20th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.00.

Hedge Funds Weigh In On I-Mab

An institutional investor recently bought a new stake in I-Mab stock. Taikang Asset Management Hong Kong Co Ltd acquired a new position in I-Mab (NASDAQ:NBP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 128,765 shares of the company’s stock, valued at approximately $512,000. Taikang Asset Management Hong Kong Co Ltd owned about 0.11% of I-Mab at the end of the most recent quarter. Institutional investors 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.