I-Mab (NASDAQ:IMAB) Receives Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of I-Mab (NASDAQ:IMAB) in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a $8.00 price target on the stock.

I-Mab Stock Down 2.9 %

NASDAQ IMAB opened at $1.01 on Friday. I-Mab has a 1-year low of $0.99 and a 1-year high of $2.54. The firm’s fifty day simple moving average is $1.19 and its 200-day simple moving average is $1.40.

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

Hedge Funds Weigh In On I-Mab

Institutional investors have recently made changes to their positions in the business. XTX Topco Ltd boosted its stake in I-Mab by 140.8% during the 3rd quarter. XTX Topco Ltd now owns 43,039 shares of the company’s stock valued at $53,000 after purchasing an additional 25,163 shares during the period. Garden State Investment Advisory Services LLC bought a new stake in shares of I-Mab in the third quarter valued at approximately $179,000. Bank of Montreal Can acquired a new stake in shares of I-Mab in the second quarter worth $453,000. Finally, Caligan Partners LP increased its position in I-Mab by 3.7% during 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 during the period. 38.38% of the stock is currently owned by institutional investors.

I-Mab Company Profile

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.