Wall Street Zen Downgrades I-Mab (NASDAQ:NBP) to Strong Sell

Key Points

• Wall Street Zen downgraded I-Mab to “strong sell” from “sell,” while analyst opinions remain mixed. MarketBeat reports a consensus “hold” rating and an average price target of $9.00.
• I-Mab shares opened at $1.80, near their 52-week low of $1.46 and well below the 52-week high of $6.79. The company reported a quarterly loss of $0.16 per share and is forecast to lose $0.30 per share for the fiscal year.
• Institutional investors own 38.38% of I-Mab, with Taikang Asset Management Hong Kong recently purchasing 128,765 shares valued at approximately $512,000.

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

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

I-Mab Stock Performance

I-Mab stock opened at $1.80 on Monday. The firm has a market cap of $208.17 million, a P/E ratio of -5.00 and a beta of 1.50. I-Mab has a 1-year low of $1.46 and a 1-year high of $6.79. The firm has a 50-day moving average of $1.84 and a 200-day moving average of $2.18.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in I-Mab stock. Taikang Asset Management Hong Kong Co Ltd purchased a new stake in shares of I-Mab (NASDAQ:NBP - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission. 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.

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