I-Mab (NASDAQ:NBP) Cut to Hold at Wall Street Zen

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

A number of other equities research analysts have also recently weighed in on NBP. Weiss Ratings assumed coverage on shares of I-Mab in a research report on Thursday, February 5th. They set a “sell (d-)” rating for the company. HC Wainwright restated a “buy” rating and issued a $9.00 price objective on shares of I-Mab in a report on Monday, March 16th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $9.00.

I-Mab Trading Up 2.7%

Shares of I-Mab stock opened at $2.63 on Friday. I-Mab has a 52 week low of $0.60 and a 52 week high of $6.79. The firm has a market capitalization of $303.21 million, a PE ratio of -7.31 and a beta of 1.60.

I-Mab (NASDAQ:NBP) last issued its quarterly earnings data on Thursday, December 18th. The company reported ($0.07) earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On I-Mab

An institutional investor recently bought a new position in I-Mab stock. Brooklyn Investment Group purchased a new position in shares of I-Mab (NASDAQ:NBP) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,715 shares of the company’s stock, valued at approximately $51,000. 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.