I-Mab (NASDAQ:NBP) Insider Sells $79,903.72 in Stock

I-Mab (NASDAQ:NBP) insider Sean Wuxiong Cao sold 107,978 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $0.74, for a total transaction of $79,903.72. Following the completion of the transaction, the insider owned 266,467 shares in the company, valued at approximately $197,185.58. This represents a 28.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

I-Mab Price Performance

Shares of NASDAQ:NBP traded down $0.10 during mid-day trading on Friday, reaching $1.59. 252,833 shares of the company were exchanged, compared to its average volume of 708,963. I-Mab has a 1 year low of $1.46 and a 1 year high of $6.79. The firm’s 50-day simple moving average is $1.82 and its 200 day simple moving average is $2.13. The firm has a market cap of $183.88 million, a price-to-earnings ratio of -4.42 and a beta of 1.50.

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

Hedge Funds Weigh In On I-Mab

A hedge fund recently bought a new stake in I-Mab stock. Brooklyn Investment Group acquired a new position in shares of I-Mab (NASDAQ:NBP) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 12,715 shares of the company’s stock, valued at approximately $51,000. Institutional investors own 38.38% of the company’s stock.

Analysts Set New Price Targets

NBP has been the topic of several research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of I-Mab in a report on Thursday, August 27th. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 target price on shares of I-Mab in a research report on Thursday, August 20th. Finally, Wall Street Zen lowered shares of I-Mab from a “sell” rating to a “strong sell” rating in a research note on Monday. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, I-Mab presently has a consensus rating of “Hold” and a consensus price target of $9.00.

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.