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

I-Mab (NASDAQ:BDTX) announced its quarterly earnings data on Tuesday. The company reported ($4.63) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.37) by ($3.26), Fidelity Earnings reports.

Shares of NASDAQ BDTX traded down $1.29 during midday trading on Wednesday, reaching $25.03. 516 shares of the stock were exchanged, compared to its average volume of 323,537. I-Mab has a twelve month low of $17.63 and a twelve month high of $41.79. The firm has a 50-day moving average price of $30.58.

Several brokerages recently commented on BDTX. Canaccord Genuity began coverage on shares of I-Mab in a research report on Monday, February 24th. They issued a “buy” rating and a $50.00 price objective for the company. Cowen began coverage on shares of I-Mab in a research report on Monday, February 24th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. began coverage on shares of I-Mab in a research report on Monday, February 24th. They issued an “overweight” rating and a $42.00 price objective for the company. Finally, Jefferies Financial Group began coverage on shares of I-Mab in a research report on Monday, February 24th. They issued a “buy” rating and a $47.00 price objective for the company.

In related news, Director Rajeev M. Shah purchased 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were purchased at an average price of $37.88 per share, with a total value of $37,880,000.00. Also, insider James E. Flynn purchased 400,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was bought at an average cost of $38.00 per share, for a total transaction of $15,200,000.00. Insiders have bought a total of 2,294,736 shares of company stock worth $86,972,600 in the last ninety days.

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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