Ground Swell Capital LLC Buys Shares of 63,730 I-Mab Sponsored ADR $IMAB

Key Points

• Ground Swell Capital LLC has acquired a new stake in I-Mab, purchasing 63,730 shares valued at approximately $53,000, indicating growing interest from institutional investors.
• I-Mab's stock opened at $5.16, with a significant 1-year range between $0.60 and $5.35, reflecting volatility in its market performance.
• Analysts have differing views on I-Mab, with HC Wainwright maintaining a "buy" rating and a target price of $7.00, while others have downgraded their ratings.

Ground Swell Capital LLC acquired a new position in I-Mab Sponsored ADR (NASDAQ:IMAB - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 63,730 shares of the company's stock, valued at approximately $53,000. Ground Swell Capital LLC owned 0.08% of I-Mab as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. HBK Sorce Advisory LLC purchased a new position in shares of I-Mab in the first quarter worth $38,000. Millennium Management LLC grew its stake in I-Mab by 763.1% during the fourth quarter. Millennium Management LLC now owns 97,749 shares of the company's stock valued at $83,000 after acquiring an additional 86,424 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in I-Mab in the 4th quarter valued at $93,000. Finally, Cantor Fitzgerald L. P. purchased a new stake in I-Mab in the 4th quarter worth $119,000. Hedge funds and other institutional investors own 38.38% of the company's stock.

I-Mab Stock Up 7.4%

IMAB traded up $0.31 during trading on Wednesday, reaching $4.52. The company had a trading volume of 1,496,913 shares, compared to its average volume of 4,386,245. The business has a 50 day simple moving average of $2.72 and a 200-day simple moving average of $1.59. I-Mab Sponsored ADR has a 52 week low of $0.60 and a 52 week high of $5.90.

Analyst Ratings Changes

IMAB has been the subject of a number of research analyst reports. HC Wainwright restated a "buy" rating and set a $7.00 price objective on shares of I-Mab in a research report on Wednesday, July 9th. Wall Street Zen lowered I-Mab from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $5.00 price objective on shares of I-Mab in a research note on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $6.00.

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.