Stonepine Capital Management LLC Takes Position in I-Mab Sponsored ADR $IMAB

Key Points

• Stonepine Capital Management LLC has made a new investment in I-Mab, acquiring approximately 483,647 shares valued at $398,000, representing about 0.59% ownership of the company.
• Several institutional investors, including Millennium Management LLC and Cantor Fitzgerald L. P., have significantly increased their stakes in I-Mab during recent quarters.
• Analysts have recently upgraded I-Mab's stock rating to "buy" with an average price target of $6.50, reflecting positive sentiment in the market regarding the company's future performance.

Stonepine Capital Management LLC purchased a new stake in shares of I-Mab Sponsored ADR (NASDAQ:IMAB - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 483,647 shares of the company's stock, valued at approximately $398,000. Stonepine Capital Management LLC owned approximately 0.59% of I-Mab at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Cantor Fitzgerald L. P. bought a new position in shares of I-Mab during the 4th quarter valued at $119,000. BNP Paribas Financial Markets bought a new position in shares of I-Mab during the 4th quarter valued at $93,000. Millennium Management LLC raised its holdings in shares of I-Mab by 763.1% during the 4th quarter. Millennium Management LLC now owns 97,749 shares of the company's stock valued at $83,000 after purchasing an additional 86,424 shares in the last quarter. Ground Swell Capital LLC bought a new position in shares of I-Mab during the 1st quarter valued at $53,000. Finally, HBK Sorce Advisory LLC bought a new position in shares of I-Mab during the 1st quarter valued at $38,000. Institutional investors own 38.38% of the company's stock.

I-Mab Stock Performance

NASDAQ IMAB traded down $0.01 during midday trading on Friday, hitting $4.24. The company had a trading volume of 1,095,804 shares, compared to its average volume of 962,411. The firm has a fifty day simple moving average of $3.00 and a two-hundred day simple moving average of $1.75. I-Mab Sponsored ADR has a fifty-two week low of $0.60 and a fifty-two week high of $5.90.

I-Mab (NASDAQ:IMAB - Get Free Report) last posted its quarterly earnings results on Wednesday, August 20th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.03. Equities research analysts forecast that I-Mab Sponsored ADR will post -0.56 EPS for the current year.

Wall Street Analyst Weigh In

IMAB has been the topic of several recent analyst reports. Needham & Company LLC lifted their target price on shares of I-Mab from $5.00 to $6.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Brookline Capital Management reiterated a "buy" rating on shares of I-Mab in a report on Thursday. Wall Street Zen upgraded shares of I-Mab from a "hold" rating to a "buy" rating in a report on Saturday, August 23rd. Loop Capital set a $8.00 target price on shares of I-Mab in a report on Thursday. Finally, HC Wainwright reiterated a "buy" rating and issued a $7.00 target price on shares of I-Mab in a report on Thursday, August 21st. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $7.00.

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.