I-Mab (NASDAQ:NBP) Stock Price Up 2.5% – Time to Buy?

I-Mab (NASDAQ:NBP) shot up 2.5% during trading on Friday . The stock traded as high as $1.6450 and last traded at $1.64. 171,732 shares were traded 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.

Analyst Upgrades and Downgrades

NBP has been the topic of a number of research reports. Weiss Ratings raised shares of I-Mab from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 1st. HC Wainwright reissued a “buy” rating and issued a $9.00 price target on shares of I-Mab in a research note on Wednesday, April 8th. Finally, Wall Street Zen lowered shares of I-Mab from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. One 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 stock currently has an average rating of “Hold” and an average target price of $9.00.

I-Mab Stock Performance

The stock has a market cap of $189.67 million, a price-to-earnings ratio of -4.56 and a beta of 1.47. The business has a fifty day simple moving average of $1.93.

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

Insider Transactions at I-Mab

In other I-Mab news, insider Mark Arnold Hagler acquired 230,000 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The shares were acquired at an average price of $2.51 per share, with a total value of $577,300.00. Following the completion of the purchase, the insider directly owned 230,000 shares of the company’s stock, valued at approximately $577,300. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 22.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On I-Mab

An institutional investor recently bought a new stake in I-Mab stock. Brooklyn Investment Group purchased a new position in I-Mab (NASDAQ:NBP) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 12,715 shares of the company’s stock, valued at approximately $51,000. 38.38% of the stock is currently owned by 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.