I-Mab tumbles on China drug report, analyst calls selloff overreaction

** Shares of drug developer I-Mab IMAB.O fall as much as 30% to $3.20

** The Trump administration has been discussing severe restrictions on Chinese medicines, the New York Times reported on Wednesday, citing a draft executive order

** BTIG analyst Justin Zelin says the IMAB selloff an "overreaction" and "an unwarranted mispricing and not a fundamental risk"

** "I-Mab is not a Chinese drugmaker, but a U.S.-based biotech company" Zelin adds, "divested its China operations in April 2024"

** Including session moves, stock is up more than fourfold YTD