HC Wainwright Reaffirms "Buy" Rating for I-Mab (NASDAQ:NBP)

Key Points

• HC Wainwright reaffirmed its Buy rating on I-Mab and maintained a $9.00 price target, implying approximately 396% upside from the stock’s $1.81 price.
• Analyst sentiment remains mixed: one analyst rates I-Mab Buy and another Sell, resulting in a consensus Hold rating with a $9.00 consensus target.
• I-Mab reported quarterly EPS of -$0.16, while its shares remain near the lower end of their 12-month range of $1.46 to $6.79; institutional investors own 38.38% of the company.

I-Mab (NASDAQ:NBP - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at HC Wainwright in a report released on Thursday,Benzinga reports. They currently have a $9.00 target price on the stock. HC Wainwright's price objective suggests a potential upside of 395.87% from the company's current price.

Separately, Weiss Ratings raised I-Mab from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, June 1st. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $9.00.

I-Mab Stock Performance

NASDAQ NBP traded down $0.17 during trading hours on Thursday, hitting $1.81. The company's stock had a trading volume of 283,917 shares, compared to its average volume of 751,332. The stock has a 50 day moving average price of $1.77. The company has a market capitalization of $209.90 million, a P/E ratio of -5.04 and a beta of 1.47. I-Mab has a 12 month low of $1.46 and a 12 month high of $6.79.

I-Mab (NASDAQ:NBP - Get Free Report) last announced its earnings results on Thursday, August 20th. The company reported ($0.16) EPS for the quarter. On average, equities analysts predict that I-Mab will post -0.56 EPS for the current year.

Institutional Trading of I-Mab

An institutional investor recently bought a new position in I-Mab stock. Brooklyn Investment Group acquired a new stake in I-Mab (NASDAQ:NBP - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 12,715 shares of the company's stock, valued at approximately $51,000. 38.38% of the stock is owned by institutional investors and hedge funds.

About I-Mab

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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