I-Mab (NASDAQ:NBP) Insider Sean Wuxiong Cao Sells 107,978 Shares of Stock

Key Points

• I-Mab insider Sean Wuxiong Cao sold 107,978 shares at an average price of $0.74, totaling $79,903.72. The sale reduced his ownership by 28.84% and was made to cover tax withholding tied to vested equity awards.
• I-Mab shares fell to $1.59, near their 12-month low of $1.46, while the company reported a quarterly loss of $0.16 per share. Analysts expect a full-year loss of approximately $0.30 per share.
• Analyst sentiment is mixed, with ratings ranging from “strong sell” to “buy”; the consensus rating is “Hold” with a $9.00 target price. Institutional investors own 38.38% of the stock.

I-Mab (NASDAQ:NBP - Get Free Report) insider Sean Wuxiong Cao sold 107,978 shares of the 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 sale, the insider owned 266,467 shares of the company's stock, valued at $197,185.58. This trade represents a 28.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

I-Mab Stock Performance

Shares of NASDAQ:NBP traded down $0.10 during midday trading on Friday, hitting $1.59. The company's stock had a trading volume of 252,833 shares, compared to its average volume of 708,963. I-Mab has a 12-month low of $1.46 and a 12-month high of $6.79. The company has a market cap of $183.88 million, a P/E ratio of -4.42 and a beta of 1.50. The business's 50 day simple moving average is $1.82 and its 200 day simple moving average is $2.13.

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

Institutional Trading of I-Mab

A hedge fund recently bought a new stake 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 currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NBP. Weiss Ratings restated a "sell (d-)" rating on shares of I-Mab in a research report on Thursday, August 27th. Wall Street Zen lowered shares of I-Mab from a "sell" rating to a "strong sell" rating in a report on Monday. Finally, HC Wainwright reissued a "buy" rating and issued a $9.00 price target on shares of I-Mab in a research note on Thursday, August 20th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus 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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