I-Mab (NASDAQ:NBP) Issues Quarterly Earnings Results

I-Mab (NASDAQ:NBP) announced its quarterly earnings data on Tuesday. The company reported ($0.30) earnings per share (EPS) for the quarter, FiscalAI reports.

I-Mab Trading Up 2.5%

Shares of NASDAQ NBP traded up $0.06 during midday trading on Tuesday, reaching $2.48. 443,373 shares of the company traded hands, compared to its average volume of 836,355. The stock’s 50-day moving average is $3.02. The firm has a market capitalization of $285.92 million, a P/E 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NBP shares. Wall Street Zen cut I-Mab from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of I-Mab in a research note on Monday, March 16th. Finally, Weiss Ratings started coverage on I-Mab in a research note on Thursday, February 5th. They issued a “sell (d-)” rating on the stock. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $9.00.

Institutional Inflows and Outflows

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) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 12,715 shares of the company’s stock, valued at approximately $51,000. Institutional investors and hedge funds 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.