I-Mab (NASDAQ:IMAB) Given “Buy” Rating at HC Wainwright

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

I-Mab Trading Up 2.8 %

Shares of NASDAQ:IMAB opened at $1.09 on Tuesday. I-Mab has a 1-year low of $0.99 and a 1-year high of $2.54. The firm has a fifty day moving average price of $1.24 and a 200 day moving average price of $1.59.

I-Mab (NASDAQ:IMAB) last announced its earnings results on Wednesday, August 28th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.51) by $0.44. On average, research analysts forecast that I-Mab will post -0.38 EPS for the current fiscal year.

Institutional Investors Weigh In On I-Mab

A hedge fund recently bought a new stake in I-Mab stock. Bank of Montreal Can bought a new stake in I-Mab (NASDAQ:IMAB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 244,875 shares of the company’s stock, valued at approximately $453,000. Bank of Montreal Can owned approximately 0.30% of I-Mab as of its most recent SEC filing. Institutional investors own 38.38% of the company’s stock.

About I-Mab

I-Mab, a clinical stage biopharmaceutical company, discovers, develops, and commercializes biologics to treat cancer and autoimmune disorders. It is developing Felzartamab, a CD38 antibody that is in Phase 1b/2a for patients with membranous nephropathy; Eftansomatropin alfa, a long-acting growth hormone, which has completed Phase 3 clinical trials to treat pediatric growth hormone deficiency; Efineptakin alfa, a recombinant human IL-7 that is in Phase 2 for cancer treatment-related lymphopenia and cancer immunotherapy; and Lemzoparlimab, a CD47 monoclonal antibody that has completed Phase 2 clinical trial.