Novabridge Biosciences (NASDAQ:NBP) Stock Falls 2.9% - Should You Sell?

Novabridge Biosciences (NASDAQ:NBP - Get Free Report) shares fell 2.9% during trading on Thursday. The stock traded as low as $1.2550 and last traded at $1.33. 456,187 shares traded hands during mid-day trading, a decline of 37% from the average session volume of 724,182 shares. The stock had previously closed at $1.37.

Analysts Set New Price Targets

NBP has been the topic of a number of analyst reports. Wall Street Zen raised shares of Novabridge Biosciences from a "strong sell" rating to a "sell" rating in a report on Tuesday, September 15th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Novabridge Biosciences in a report on Thursday, August 27th. Finally, HC Wainwright reiterated a "buy" rating and issued a $9.00 price target on shares of Novabridge Biosciences in a research report on Thursday, August 20th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $9.00.

Novabridge Biosciences Price Performance

The firm's 50 day moving average is $1.48 and its 200 day moving average is $2.05. The company has a market cap of $117.16 million, a PE ratio of -2.81 and a beta of 1.70.

Novabridge Biosciences (NASDAQ:NBP - Get Free Report) last released its quarterly earnings results on Thursday, August 20th. The company reported ($0.16) EPS for the quarter. As a group, analysts anticipate that Novabridge Biosciences will post -0.30 EPS for the current year.

Insider Transactions at Novabridge Biosciences

In related news, insider Sean Wuxiong Cao sold 107,978 shares of the business's stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $0.74, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 119,469 shares of company stock worth $88,325 over the last three months. 22.10% of the stock is currently owned by company insiders.

About Novabridge Biosciences

Novabridge Biosciences NASDAQ: NBP is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing novel biologic medicines, primarily for the treatment of cancer. Its research and development activities center on immunotherapies designed to activate the immune system or target specific proteins associated with tumor growth and survival.

The company’s pipeline has included investigational antibody-based therapies such as givastomig, a bispecific antibody designed to target Claudin 18.2 and stimulate an immune response through 4-1BB, as well as other programs directed at tumor-associated and immune-regulatory targets.