I-Mab (NASDAQ:BDTX) Posts Quarterly Earnings Results, Misses Estimates By $3.26 EPS

I-Mab (NASDAQ:BDTX) issued its earnings results on Tuesday. The company reported ($4.63) earnings per share for the quarter, missing the consensus estimate of ($1.37) by ($3.26), Fidelity Earnings reports.

BDTX stock traded down $0.65 during midday trading on Wednesday, reaching $25.67. The company had a trading volume of 1,186 shares, compared to its average volume of 323,537. The stock’s 50 day moving average price is $30.58. I-Mab has a fifty-two week low of $17.63 and a fifty-two week high of $41.79.

Several research analysts have commented on the company. Canaccord Genuity assumed coverage on I-Mab in a research report on Monday, February 24th. They issued a “buy” rating and a $50.00 price objective on the stock. Jefferies Financial Group assumed coverage on I-Mab in a research report on Monday, February 24th. They issued a “buy” rating and a $47.00 price objective on the stock. JPMorgan Chase & Co. initiated coverage on I-Mab in a research report on Monday, February 24th. They issued an “overweight” rating and a $42.00 price objective on the stock. Finally, Cowen initiated coverage on I-Mab in a research note on Monday, February 24th. They set an “outperform” rating for the company.

In other I-Mab news, insider James E. Flynn purchased 400,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were bought at an average price of $38.00 per share, with a total value of $15,200,000.00. Also, major shareholder Versant Venture Capital Vi, L. bought 894,736 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were purchased at an average cost of $37.88 per share, for a total transaction of $33,892,599.68. Over the last 90 days, insiders acquired 2,294,736 shares of company stock valued at $86,972,600.

I-Mab Company Profile

Black Diamond Therapeutics, Inc, a biotechnology company, discover and develops small molecule, tumor-agnostic therapies for cancer treatment. Its lead product candidate is BDTX-189, an inhibitor of non-canonical and oncogenic mutations of ErbB kinases epidermal growth factor receptor (EGFR) and tyrosine-protein kinase.

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