Insider Buying: I-Mab (NASDAQ:NBP) Insider Buys 230,000 Shares of Stock

Key Points

• Insider purchase: Mark Arnold Hagler bought 230,000 shares on April 24 at an average price of $2.51 for a total of $577,300, a purchase disclosed in an SEC filing that brought his ownership to 230,000 shares.
• Stock snapshot: I-Mab shares traded at $2.39 (down $0.04) with volume of 230,520 versus an average of 806,651, a market cap of about $276.4M, a 12-month range of $0.81–$6.79, and a negative PE of -6.64.
• Mixed sentiment and institutional activity: Analysts are split (one buy with a $9 target, others sell) leaving an average "Hold" rating, while institutional investors own 38.38% of the stock and Brooklyn Investment Group recently bought ~12,715 shares (~$51K).

I-Mab (NASDAQ:NBP - Get Free Report) insider Mark Arnold Hagler purchased 230,000 shares of the firm's stock in a transaction dated Friday, April 24th. The stock was acquired at an average cost of $2.51 per share, for a total transaction of $577,300.00. Following the purchase, the insider owned 230,000 shares in the company, valued at approximately $577,300. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

I-Mab Stock Performance

Shares of I-Mab stock traded down $0.04 during trading hours on Tuesday, hitting $2.39. The company's stock had a trading volume of 230,520 shares, compared to its average volume of 806,651. I-Mab has a twelve month low of $0.81 and a twelve month high of $6.79. The company's fifty day simple moving average is $2.82. The company has a market cap of $276.40 million, a PE ratio of -6.64 and a beta of 1.74.

I-Mab (NASDAQ:NBP - Get Free Report) last announced its quarterly earnings results on Wednesday, April 8th. The company reported ($0.30) EPS for the quarter. Equities analysts predict that I-Mab will post -0.81 earnings per share for the current year.

Institutional Investors Weigh In On I-Mab

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

Analyst Upgrades and Downgrades

NBP has been the topic of several recent analyst reports. HC Wainwright reaffirmed a "buy" rating and issued a $9.00 price target on shares of I-Mab in a research note on Wednesday, April 8th. Weiss Ratings assumed coverage on I-Mab in a research note on Thursday, February 5th. They set a "sell (d-)" rating on the stock. Finally, Wall Street Zen lowered I-Mab from a "hold" rating to a "sell" rating in a research note on Saturday, April 11th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, I-Mab has an average rating of "Hold" and an average target price of $9.00.

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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