I-Mab (NASDAQ:NBP) Receives Buy Rating from HC Wainwright

I-Mab (NASDAQ:NBP)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research note issued on Wednesday,Benzinga reports. They currently have a $9.00 target price on the stock. HC Wainwright’s price target would indicate a potential upside of 262.90% from the company’s previous close.

A number of other analysts also recently weighed in on NBP. Weiss Ratings started coverage on I-Mab in a research note on Thursday, February 5th. They issued a “sell (d-)” rating on the stock. Wall Street Zen downgraded I-Mab from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $9.00.

I-Mab Stock Performance

I-Mab stock opened at $2.48 on Wednesday. I-Mab has a 1-year low of $0.62 and a 1-year high of $6.79. The stock has a market capitalization of $285.92 million, a P/E ratio of -6.89 and a beta of 1.74. The company has a 50 day simple moving average of $3.01.

I-Mab (NASDAQ:NBP) last posted its quarterly earnings results on Tuesday, April 7th. The company reported ($0.30) earnings per share for the quarter.

Institutional Trading of I-Mab

A hedge fund recently bought a new stake in I-Mab stock. Taikang Asset Management Hong Kong Co Ltd bought a new position in shares of I-Mab (NASDAQ:NBP) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC). 38.38% of the stock is owned by hedge funds and other institutional investors.

About I-Mab

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.