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

HC Wainwright reiterated their buy rating on shares of I-Mab (NASDAQ:IMAB - Free Report) in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a $7.00 target price on the stock.

Separately, Needham & Company LLC upped their price target on I-Mab from $4.00 to $5.00 and gave the stock a "buy" rating in a research note on Friday, June 27th.

I-Mab Stock Performance

Shares of IMAB traded down $0.26 during trading hours on Wednesday, hitting $2.05. 392,373 shares of the company were exchanged, compared to its average volume of 395,220. The firm's 50 day moving average is $1.75 and its 200-day moving average is $1.20. I-Mab has a 52 week low of $0.60 and a 52 week high of $3.08.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. HBK Sorce Advisory LLC acquired a new position in I-Mab in the 1st quarter valued at $38,000. Ground Swell Capital LLC acquired a new position in I-Mab in the 1st quarter valued at $53,000. Millennium Management LLC grew its stake in I-Mab by 763.1% in the 4th quarter. Millennium Management LLC now owns 97,749 shares of the company's stock valued at $83,000 after buying an additional 86,424 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in I-Mab in the 4th quarter valued at $93,000. Finally, Cantor Fitzgerald L. P. acquired a new position in I-Mab in the 4th quarter valued at $119,000. 38.38% of the stock is currently owned by institutional investors and hedge funds.

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.