I-Mab (NASDAQ:NBP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of I-Mab (NASDAQ:NBP) from a sell rating to a hold rating in a research note issued to investors on Saturday.

Several other research analysts also recently commented on the company. HC Wainwright reiterated a “buy” rating and set a $9.00 target price on shares of I-Mab in a research note on Thursday, August 20th. Weiss Ratings upgraded I-Mab from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 1st. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, I-Mab has a consensus rating of “Hold” and an average target price of $9.00.

I-Mab Price Performance

Shares of NASDAQ:NBP opened at $1.89 on Friday. I-Mab has a 52-week low of $1.46 and a 52-week high of $6.79. The firm has a market cap of $218.58 million, a P/E ratio of -5.25 and a beta of 1.47. The firm has a 50-day moving average price of $1.79.

I-Mab (NASDAQ:NBP) last announced its quarterly earnings results on Thursday, August 20th. The company reported ($0.16) earnings per share for the quarter. Equities research analysts anticipate that I-Mab will post -0.3 earnings per share for the current year.

Institutional Investors Weigh In On I-Mab

A hedge fund recently bought a new position in I-Mab stock. Taikang Asset Management Hong Kong Co Ltd acquired a new position in shares of I-Mab (NASDAQ:NBP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 128,765 shares of the company’s stock, valued at approximately $512,000. Taikang Asset Management Hong Kong Co Ltd owned 0.11% of I-Mab as of its most recent SEC filing. Hedge funds and other 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.