BTIG analyst Justin Zelin notes that I-Mab (IMAB) shares have fallen about 20% following a New York Times article highlighting the Trump administration’s potential consideration of restrictions on Chinese produced medicines under CFIUS review, but the firm believes the market is “misinterpreting the situation as applying to I-Mab” and views the selloff as “an unwarranted mispricing and not a fundamental risk.” The firm, which reminds investors that I-Mab is not a Chinese drugmaker, but a U.S.-based biotech company and that it has no China licensing risk for givastomig, calls the weakness “an overreaction to a mischaracterization” and would be buyers amid the weakness. BTIG reiterates a Buy rating and $7 price target on I-Mab shares.
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