Todd Franklin Watanabe Sells 3,000 Shares of I-Mab (NASDAQ:ARQT) Stock

I-Mab (NASDAQ:ARQT) CEO Todd Franklin Watanabe sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $30.00, for a total value of $90,000.00. Following the sale, the chief executive officer now directly owns 569,928 shares of the company’s stock, valued at approximately $17,097,840. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of I-Mab stock traded down $1.68 during trading on Thursday, reaching $27.62. 358,023 shares of the company’s stock were exchanged, compared to its average volume of 135,741. I-Mab has a 1-year low of $17.10 and a 1-year high of $40.88. The firm’s 50-day moving average price is $25.55 and its 200 day moving average price is $27.87. The company has a market cap of $1.05 billion and a P/E ratio of -1.21.

I-Mab (NASDAQ:ARQT) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by ($0.10). As a group, sell-side analysts anticipate that I-Mab will post -3.41 EPS for the current fiscal year.

Several research analysts have issued reports on ARQT shares. BidaskClub upgraded I-Mab from a “sell” rating to a “hold” rating in a research note on Wednesday, September 23rd. Zacks Investment Research cut I-Mab from a “hold” rating to a “sell” rating in a report on Friday, August 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. I-Mab has an average rating of “Hold” and an average price target of $41.00.

I-Mab Company Profile

Arcutis Biotherapeutics, Inc, a biopharmaceutical company, focuses on developing and commercializing treatments for dermatological diseases. Its lead product candidate is ARQ-151, a topical cream formulation of roflumilast that is in Phase III clinical trials for the treatment of plaque psoriasis and atopic dermatitis.

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