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

I-Mab (NASDAQ:NBP) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

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

I-Mab Stock Performance

NBP stock opened at $2.56 on Friday. I-Mab has a twelve month low of $0.60 and a twelve month high of $6.79. The stock has a market cap of $295.14 million, a P/E ratio of -7.11 and a beta of 1.60.

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

Institutional Trading of I-Mab

An institutional investor recently bought a new position in I-Mab stock. Taikang Asset Management Hong Kong Co Ltd purchased a new stake in I-Mab (NASDAQ:NBP) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 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 at the end of the most recent reporting period. 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.