HC Wainwright Reaffirms “Buy” Rating for I-Mab (NASDAQ:NBP)

I-Mab (NASDAQ:NBP)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a report released on Thursday,Benzinga reports. They currently have a $9.00 target price on the stock. HC Wainwright’s price objective suggests a potential upside of 395.87% from the company’s current price.

Separately, Weiss Ratings raised I-Mab from a “sell (e+)” rating to a “sell (d-)” rating in a research note 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 MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $9.00.

I-Mab Stock Performance

NASDAQ NBP traded down $0.17 during trading hours on Thursday, hitting $1.81. The company’s stock had a trading volume of 283,917 shares, compared to its average volume of 751,332. The stock has a 50 day moving average price of $1.77. The company has a market capitalization of $209.90 million, a P/E ratio of -5.04 and a beta of 1.47. I-Mab has a 12 month low of $1.46 and a 12 month high of $6.79.

I-Mab (NASDAQ:NBP) last announced its earnings results on Thursday, August 20th. The company reported ($0.16) EPS for the quarter. On average, equities analysts predict that I-Mab will post -0.56 EPS for the current year.

Institutional Trading of I-Mab

An institutional investor recently bought a new position 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 owned by institutional investors and hedge funds.

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.