Sean Wuxiong Cao Sells 107,978 Shares of I-Mab (NASDAQ:NBP) Stock

I-Mab (NASDAQ:NBP) insider Sean Wuxiong Cao sold 107,978 shares of the firm’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 sale, the insider owned 266,467 shares in the company, valued at $197,185.58. This trade represents a 28.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

I-Mab Stock Performance

Shares of NBP opened at $1.59 on Friday. The firm has a market cap of $183.88 million, a P/E ratio of -4.42 and a beta of 1.50. I-Mab has a twelve month low of $1.46 and a twelve month high of $6.79. The firm’s 50 day moving average price is $1.81 and its two-hundred day moving average price is $2.13.

I-Mab (NASDAQ:NBP) last issued its quarterly earnings data on Thursday, August 20th. The company reported ($0.16) earnings per share (EPS) for the quarter. On average, sell-side analysts anticipate that I-Mab will post -0.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on NBP shares. Weiss Ratings restated a “sell (d-)” rating on shares of I-Mab in a report on Thursday, August 27th. HC Wainwright reiterated a “buy” rating and set a $9.00 price objective on shares of I-Mab in a report on Thursday, August 20th. Finally, Wall Street Zen lowered I-Mab from a “sell” rating to a “strong sell” rating in a research report on Monday, September 7th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.00.

Institutional Inflows and Outflows

An institutional investor 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 filing with the Securities and Exchange Commission. The institutional investor acquired 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.