I-Mab (NASDAQ:IMAB) Downgraded to "Hold" Rating by Wall Street Zen

Key Points

• I-Mab's stock has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, reflecting a cautious outlook from analysts.
• Despite the downgrade, other analysts have maintained positive forecasts, with BTIG Research raising their price target from $7.00 to $9.00 and assigning a "buy" rating.
• I-Mab reported a quarterly earnings per share of ($0.07), exceeding analysts' expectations of ($0.10), indicating better-than-anticipated financial performance.

I-Mab (NASDAQ:IMAB - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Sunday.

Other analysts have also recently issued reports about the stock. BTIG Research upped their price target on shares of I-Mab from $7.00 to $9.00 and gave the company a "buy" rating in a research note on Friday. Leerink Partners assumed coverage on shares of I-Mab in a research note on Friday, October 3rd. They set an "outperform" rating and a $9.00 price target on the stock. Brookline Capital Management restated a "buy" rating on shares of I-Mab in a research note on Thursday, August 28th. Weiss Ratings restated a "sell (d+)" rating on shares of I-Mab in a research note on Wednesday, October 8th. Finally, Loop Capital set a $8.00 price target on shares of I-Mab in a research note on Thursday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $7.67.

I-Mab Stock Performance

Shares of IMAB stock opened at $5.77 on Friday. The firm's 50 day moving average is $4.43 and its 200 day moving average is $2.62. I-Mab has a 12 month low of $0.60 and a 12 month high of $6.79.

I-Mab (NASDAQ:IMAB - Get Free Report) last announced its quarterly earnings results on Wednesday, August 20th. The company reported ($0.07) EPS for the quarter, beating analysts' consensus estimates of ($0.10) by $0.03. On average, equities research analysts predict that I-Mab will post -0.56 earnings per share for the current year.

Institutional Trading of I-Mab

Several institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in I-Mab by 147.6% in the 2nd quarter. Geode Capital Management LLC now owns 54,562 shares of the company's stock worth $132,000 after purchasing an additional 32,525 shares in the last quarter. HBK Sorce Advisory LLC purchased a new stake in shares of I-Mab during the 1st quarter valued at $38,000. SG Americas Securities LLC raised its position in shares of I-Mab by 6.6% during the 2nd quarter. SG Americas Securities LLC now owns 876,353 shares of the company's stock valued at $2,121,000 after buying an additional 54,312 shares in the last quarter. Ground Swell Capital LLC purchased a new stake in shares of I-Mab during the 1st quarter valued at $53,000. Finally, Stonepine Capital Management LLC purchased a new stake in shares of I-Mab during the 1st quarter valued at $398,000. 38.38% of the stock is currently owned by hedge funds and other institutional investors.

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.

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