I-Mab (NASDAQ:NBP) Receives Buy Rating from HC Wainwright

I-Mab (NASDAQ:NBP)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They currently have a $9.00 price target on the stock. HC Wainwright’s target price points to a potential upside of 262.90% from the company’s current price.

Several other research analysts also recently weighed in on NBP. Weiss Ratings assumed coverage on I-Mab in a research note on Thursday, February 5th. They issued a “sell (d-)” rating on the stock. Wall Street Zen downgraded I-Mab from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, I-Mab currently has a consensus rating of “Hold” and a consensus target price of $9.00.

I-Mab Stock Performance

NBP opened at $2.48 on Wednesday. The firm has a market capitalization of $285.92 million, a price-to-earnings ratio of -6.89 and a beta of 1.74. I-Mab has a 52 week low of $0.62 and a 52 week high of $6.79. The stock’s 50 day moving average price is $3.01.

I-Mab (NASDAQ:NBP) last released its quarterly earnings results on Tuesday, April 7th. The company reported ($0.30) EPS for the quarter.

Hedge Funds Weigh In On I-Mab

A hedge fund recently bought a new stake in I-Mab stock. Brooklyn Investment Group bought a new position in shares of I-Mab (NASDAQ:NBP) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 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.

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.