I-Mab (NASDAQ:NBP) Shares Down 4.9% – Should You Sell?

I-Mab (NASDAQ:NBP)’s share price traded down 4.9% during mid-day trading on Wednesday . The company traded as low as $1.7150 and last traded at $1.74. Approximately 354,237 shares were traded during trading, a decline of 50% from the average session volume of 705,434 shares. The stock had previously closed at $1.83.

Analyst Ratings Changes

NBP has been the subject of a number of recent analyst reports. HC Wainwright restated a “buy” rating and issued a $9.00 price objective on shares of I-Mab in a research report on Wednesday, April 8th. Wall Street Zen cut I-Mab from a “hold” rating to a “sell” rating in a research report on Saturday, April 11th. Finally, Weiss Ratings raised I-Mab from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $9.00.

I-Mab Stock Performance

The firm has a market capitalization of $204.70 million, a P/E ratio of -4.92 and a beta of 1.45. The stock’s fifty day simple moving average is $1.75.

Institutional Trading of I-Mab

An institutional investor recently bought a new position in I-Mab stock. Brooklyn Investment Group bought a new position in shares of I-Mab (NASDAQ:NBP) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,715 shares of the company’s stock, valued at approximately $51,000. 38.38% of the stock is owned by institutional investors and hedge funds.

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.