I-Mab (NASDAQ:NBP) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded I-Mab from “strong sell” to “sell,” while broader analyst coverage remains mixed. MarketBeat reports a consensus “Hold” rating and a $9.00 target price.
• I-Mab shares opened at $1.61, near their 12-month low of $1.46, with a market capitalization of approximately $186.2 million. The company reported a quarterly loss of $0.16 per share.
• An insider sold 107,978 shares to cover tax obligations, while Taikang Asset Management acquired a new position of 128,765 shares; insiders own 22.1% of the company and institutions own 38.38%.

I-Mab (NASDAQ:NBP - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a note issued to investors on Tuesday, Wall Street Zen reports.

A number of other research firms also recently weighed in on NBP. HC Wainwright reiterated a "buy" rating and set 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 research report on Thursday, August 27th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $9.00.

I-Mab Stock Up 1.3%

NASDAQ NBP opened at $1.61 on Tuesday. The company has a 50-day simple moving average of $1.80 and a two-hundred day simple moving average of $2.11. I-Mab has a 12-month low of $1.46 and a 12-month high of $6.79. The firm has a market cap of $186.20 million, a price-to-earnings ratio of -4.47 and a beta of 1.50.

I-Mab (NASDAQ:NBP - Get Free Report) last announced its quarterly earnings data on Thursday, August 20th. The company reported ($0.16) earnings per share for the quarter. Equities analysts expect that I-Mab will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling at I-Mab

In related news, insider Sean Wuxiong Cao sold 107,978 shares of the business's 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 completion of the transaction, the insider directly owned 266,467 shares in the company, valued at $197,185.58. The trade was a 28.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 124,239 shares of company stock worth $92,094 over the last ninety days. 22.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in I-Mab stock. Taikang Asset Management Hong Kong Co Ltd acquired a new position in I-Mab (NASDAQ:NBP - Free Report) in the 4th quarter, according to its most recent filing with the Securities and 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 approximately 0.11% of I-Mab as of its most recent filing with the Securities and Exchange Commission. 38.38% of the stock is currently owned by institutional investors and hedge funds.

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.

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