Wall Street Zen Downgrades I-Mab (NASDAQ:NBP) to Sell

I-Mab (NASDAQ:NBP) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Sunday, Wall Street Zen reports.

A number of other analysts have also weighed in on NBP. HC Wainwright reiterated a “buy” rating and issued a $9.00 price objective on shares of I-Mab in a research note on Thursday, August 20th. Weiss Ratings raised I-Mab from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 1st. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $9.00.

I-Mab Stock Performance

I-Mab stock opened at $1.82 on Friday. The business’s 50-day simple moving average is $1.83 and its two-hundred day simple moving average is $2.22. The company has a market cap of $210.48 million, a PE ratio of -5.06 and a beta of 1.47. I-Mab has a fifty-two week low of $1.46 and a fifty-two week high of $6.79.

I-Mab (NASDAQ:NBP) last released its earnings results on Thursday, August 20th. The company reported ($0.16) EPS for the quarter. As a group, analysts predict that I-Mab will post -0.3 EPS for the current fiscal year.

Hedge Funds Weigh In On I-Mab

An institutional investor recently bought a new stake in I-Mab stock. Brooklyn Investment Group bought a new stake in I-Mab (NASDAQ:NBP) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 12,715 shares of the company’s stock, valued at approximately $51,000. Institutional investors and hedge funds own 38.38% of the company’s stock.

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.