I-Mab’s (IMAB) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of I-Mab (NASDAQ:IMAB) in a report issued on Friday,Benzinga reports. The brokerage currently has a $4.00 target price on the stock.

Separately, Brookline Capital Management upgraded shares of I-Mab to a “strong-buy” rating in a report on Thursday, February 27th.

I-Mab Stock Performance

Shares of NASDAQ:IMAB opened at $0.68 on Friday. I-Mab has a 12 month low of $0.60 and a 12 month high of $2.00. The business has a 50-day moving average of $0.90 and a two-hundred day moving average of $1.03.

Institutional Trading of I-Mab

Several institutional investors have recently added to or reduced their stakes in IMAB. XTX Topco Ltd grew its stake in I-Mab by 140.8% in the third 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. Millennium Management LLC lifted its position in shares of I-Mab by 763.1% in the 4th quarter. Millennium Management LLC now owns 97,749 shares of the company’s stock worth $83,000 after buying an additional 86,424 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of I-Mab during the 4th quarter valued at about $93,000. Cantor Fitzgerald L. P. bought a new position in I-Mab in the fourth quarter worth about $119,000. Finally, Garden State Investment Advisory Services LLC acquired a new position in I-Mab in the third quarter valued at approximately $179,000. 38.38% of the stock is owned by institutional investors and hedge funds.

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.