I-Mab (NASDAQ:NBP) Stock Falls 2.9% – What’s Next?

I-Mab (NASDAQ:NBP) shares traded down 2.9% during mid-day trading on Thursday. The stock traded as low as $1.2550 and last traded at $1.33. Approximately 456,187 shares traded hands during mid-day trading, a decline of 37% from the average daily volume of 724,182 shares. The stock had previously closed at $1.37.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price target on shares of I-Mab in a research report on Thursday, August 20th. Wall Street Zen upgraded shares of I-Mab from a “strong sell” rating to a “sell” rating in a research note on Tuesday, September 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of I-Mab in a research report on Thursday, August 27th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, I-Mab currently has an average rating of “Hold” and an average price target of $9.00.

I-Mab Stock Performance

The firm has a 50 day simple moving average of $1.58 and a two-hundred day simple moving average of $1.81. The firm has a market capitalization of $158.92 million, a P/E ratio of -3.81 and a beta of 1.59.

I-Mab (NASDAQ:NBP) last released its quarterly earnings data on Thursday, August 20th. The company reported ($0.16) EPS for the quarter. Sell-side analysts anticipate that I-Mab will post -0.30 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Sean Wuxiong Cao sold 107,978 shares of I-Mab 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 sale, the insider owned 266,467 shares of the company’s stock, valued at approximately $197,185.58. The trade was a 28.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 119,469 shares of company stock worth $88,325. Corporate insiders own 22.10% of the company’s stock.

I-Mab Company Profile

I-Mab (NASDAQ: NBP) is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing novel biologic medicines, primarily for the treatment of cancer. Its research and development activities center on immunotherapies designed to activate the immune system or target specific proteins associated with tumor growth and survival.

The company’s pipeline has included investigational antibody-based therapies such as givastomig, a bispecific antibody designed to target Claudin 18.2 and stimulate an immune response through 4-1BB, as well as other programs directed at tumor-associated and immune-regulatory targets.