I-Mab (NASDAQ:NBP) Raised to “Sell” at Wall Street Zen

I-Mab (NASDAQ:NBP) was upgraded by investment analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a report issued on Tuesday, Wall Street Zen reports.

Several other analysts also recently weighed in on NBP. HC Wainwright restated a “buy” rating and set a $9.00 target price on shares of I-Mab in a research note on Thursday, August 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of I-Mab in a research report on Thursday, August 27th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, I-Mab has an average rating of “Hold” and an average price target of $9.00.

I-Mab Price Performance

I-Mab stock opened at $1.57 on Tuesday. I-Mab has a fifty-two week low of $1.46 and a fifty-two week high of $6.79. The firm has a fifty day moving average price of $1.78 and a two-hundred day moving average price of $2.09. The firm has a market cap of $181.57 million, a price-to-earnings ratio of -4.36 and a beta of 1.50.

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

Insider Activity at I-Mab

In other 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 transaction of $79,903.72. Following the completion of the transaction, the insider owned 266,467 shares of the company’s stock, valued at approximately $197,185.58. This represents a 28.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 115,745 shares of company stock worth $86,488 over the last three months. 22.10% of the stock is currently owned by corporate insiders.

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 purchased a new stake in I-Mab (NASDAQ:NBP) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing. Institutional investors own 38.38% of the company’s stock.

About I-Mab

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.