I-Mab (NASDAQ:NBP) Trading Down 4.9% – What’s Next?

I-Mab (NASDAQ:NBP)’s share price was down 4.9% on Wednesday . The stock traded as low as $1.7150 and last traded at $1.74. Approximately 354,237 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 705,434 shares. The stock had previously closed at $1.83.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NBP shares. Weiss Ratings raised I-Mab from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 1st. Wall Street Zen downgraded I-Mab from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Finally, HC Wainwright reissued a “buy” rating and issued a $9.00 target price on shares of I-Mab in a research note on Wednesday, April 8th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $9.00.

I-Mab Stock Performance

The company has a 50 day moving average of $1.76. The stock has a market cap of $201.23 million, a PE ratio of -4.83 and a beta of 1.45.

Insiders Place Their Bets

In other news, insider Mark Arnold Hagler acquired 230,000 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The stock was bought at an average cost of $2.51 per share, for a total transaction of $577,300.00. Following the acquisition, the insider directly owned 230,000 shares in the company, valued at approximately $577,300. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In the last ninety days, insiders have sold 16,473 shares of company stock valued at $23,364. 22.10% of the stock is owned by insiders.

Institutional Trading of I-Mab

An institutional investor recently bought a new position in I-Mab stock. Taikang Asset Management Hong Kong Co Ltd bought a new position in I-Mab (NASDAQ:NBP) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 128,765 shares of the company’s stock, valued at approximately $512,000. Taikang Asset Management Hong Kong Co Ltd owned approximately 0.11% of I-Mab at the end of the most recent quarter. 38.38% of the stock is currently owned by institutional investors and hedge funds.

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.