I-Mab’s (IMAB) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of I-Mab (NASDAQ:IMAB) in a research report report published on Friday,Benzinga reports. They currently have a $8.00 target price on the stock.

I-Mab Stock Performance

NASDAQ:IMAB opened at $1.01 on Friday. The company has a 50-day moving average of $1.19 and a 200-day moving average of $1.40. I-Mab has a twelve month low of $0.99 and a twelve month high of $2.54.

I-Mab (NASDAQ:IMAB) last issued its earnings results on Wednesday, August 28th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.44. Analysts forecast that I-Mab will post -0.41 earnings per share for the current year.

Institutional Investors Weigh In On I-Mab

Several hedge funds have recently modified their holdings of IMAB. XTX Topco Ltd increased its stake in I-Mab by 140.8% in the 3rd quarter. XTX Topco Ltd now owns 43,039 shares of the company’s stock worth $53,000 after purchasing an additional 25,163 shares in the last quarter. Garden State Investment Advisory Services LLC acquired a new position in shares of I-Mab in the third quarter worth about $179,000. Bank of Montreal Can purchased a new position in shares of I-Mab in the second quarter worth approximately $453,000. Finally, Caligan Partners LP increased its position in shares of I-Mab by 3.7% in the third quarter. Caligan Partners LP now owns 3,499,330 shares of the company’s stock worth $4,339,000 after acquiring an additional 124,539 shares in the last quarter. 38.38% of the stock is owned by hedge funds and other institutional investors.

About I-Mab

I-Mab, a clinical stage biopharmaceutical company, discovers, develops, and commercializes biologics in the fields of immuno-oncology and immuno-inflammation diseases primarily in the United States. It is developing Uliledlimab, a CD73 neutralizing antibody, which is in Phase 2 clinical trial for the treatment of solid tumors; Givastomig, a bi-specific antibody that is in Phase 1 clinical trial for the treatment of gastric and other cancers; and Ragistomig, a programmed cell death ligand-based tumor-dependent T cell engager, which is in Phase 1 clinical trial for the treatment of for solid tumors.