I-Mab (NASDAQ:NBP) Trading Down 1.8% – Here’s What Happened

Shares of I-Mab (NASDAQ:NBP) dropped 1.8% on Tuesday . The stock traded as low as $1.67 and last traded at $1.68. Approximately 1,153,239 shares were traded during trading, a decline of 0% from the average daily volume of 1,153,519 shares. The stock had previously closed at $1.71.

Wall Street Analyst Weigh In

NBP has been the subject of several research analyst reports. Weiss Ratings lowered shares of I-Mab from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday. Wall Street Zen lowered shares of I-Mab from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $9.00 target price on shares of I-Mab in a research note on Wednesday, April 8th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $9.00.

I-Mab Stock Performance

The company has a market capitalization of $205.86 million, a P/E ratio of -4.94 and a beta of 1.56. The stock has a 50 day moving average price of $2.42.

I-Mab (NASDAQ:NBP) last posted its quarterly earnings data on Wednesday, April 8th. The company reported ($0.30) EPS for the quarter. Equities analysts anticipate that I-Mab will post -0.56 earnings per share for the current fiscal year.

Insider Activity at I-Mab

In other I-Mab news, insider Mark Arnold Hagler acquired 230,000 shares of the stock in a transaction dated Friday, April 24th. The stock was 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 owned 230,000 shares in the company, valued at $577,300. This trade represents a ? increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 22.10% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in I-Mab stock. Brooklyn Investment Group acquired a new stake in I-Mab (NASDAQ:NBP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,715 shares of the company’s stock, valued at approximately $51,000. Institutional investors own 38.38% of the company’s stock.

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.