I-Mab (NASDAQ:NBP) Insider Sean Wuxiong Cao Sells 107,978 Shares of Stock

I-Mab (NASDAQ:NBP) insider Sean Wuxiong Cao sold 107,978 shares of the stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $0.74, for a total transaction of $79,903.72. Following the completion of the sale, the insider owned 266,467 shares of the company’s stock, valued at $197,185.58. This trade represents a 28.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

I-Mab Stock Performance

Shares of NASDAQ:NBP traded down $0.10 during midday trading on Friday, hitting $1.59. The company’s stock had a trading volume of 252,833 shares, compared to its average volume of 708,963. I-Mab has a 12-month low of $1.46 and a 12-month high of $6.79. The company has a market cap of $183.88 million, a P/E ratio of -4.42 and a beta of 1.50. The business’s 50 day simple moving average is $1.82 and its 200 day simple moving average is $2.13.

I-Mab (NASDAQ:NBP) last issued its earnings results on Thursday, August 20th. The company reported ($0.16) earnings per share (EPS) for the quarter. On average, sell-side analysts predict that I-Mab will post -0.3 earnings per share for the current fiscal year.

Institutional Trading of I-Mab

A hedge fund recently bought a new stake in I-Mab stock. Brooklyn Investment Group acquired a new stake in I-Mab (NASDAQ:NBP) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 12,715 shares of the company’s stock, valued at approximately $51,000. 38.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NBP. Weiss Ratings restated a “sell (d-)” rating on shares of I-Mab in a research report on Thursday, August 27th. Wall Street Zen lowered shares of I-Mab from a “sell” rating to a “strong sell” rating in a report on Monday. Finally, HC Wainwright reissued a “buy” rating and issued a $9.00 price target on shares of I-Mab in a research note on Thursday, August 20th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $9.00.

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.