I-Mab (NASDAQ:NBP) Shares Up 2.5% – Here’s What Happened

I-Mab (NASDAQ:NBP)’s share price was up 2.5% during trading on Friday . The company traded as high as $1.6450 and last traded at $1.64. Approximately 171,732 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 452,030 shares. The stock had previously closed at $1.60.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Weiss Ratings raised I-Mab from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 1st. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price objective on shares of I-Mab in a research report on Wednesday, April 8th. Finally, Wall Street Zen cut shares of I-Mab from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, I-Mab has a consensus rating of “Hold” and an average price target of $9.00.

I-Mab Stock Performance

The stock has a market cap of $189.67 million, a P/E ratio of -4.56 and a beta of 1.47. The business has a 50 day simple moving average of $1.93.

I-Mab (NASDAQ:NBP) last posted its quarterly earnings results on Wednesday, April 8th. The company reported ($0.30) earnings per share for the quarter. Equities research analysts anticipate that I-Mab will post -0.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other I-Mab news, insider Mark Arnold Hagler purchased 230,000 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The shares were bought at an average price of $2.51 per share, for a total transaction of $577,300.00. Following the acquisition, the insider owned 230,000 shares in the company, valued at $577,300. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 22.10% of the stock is currently owned by corporate insiders.

Institutional Trading of I-Mab

A hedge fund recently bought a new stake in I-Mab stock. Brooklyn Investment Group acquired a new position in I-Mab (NASDAQ:NBP) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 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.

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.