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

Wall Street Zen cut shares of I-Mab (NASDAQ:IMAB - Free Report) from a buy rating to a hold rating in a research note issued to investors on Sunday morning.

IMAB has been the topic of several other reports. HC Wainwright restated a "buy" rating and set a $7.00 price target on shares of I-Mab in a report on Wednesday, July 9th. Needham & Company LLC restated a "buy" rating and set a $5.00 price target on shares of I-Mab in a report on Wednesday, July 9th.

I-Mab Stock Up 1.4%

NASDAQ IMAB traded up $0.03 during trading on Friday, hitting $2.11. 271,857 shares of the company's stock were exchanged, compared to its average volume of 391,050. The stock's 50 day moving average price is $1.97 and its two-hundred day moving average price is $1.27. I-Mab has a fifty-two week low of $0.60 and a fifty-two week high of $3.08.

Institutional Trading of I-Mab

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Stonepine Capital Management LLC bought a new stake in I-Mab in the first quarter valued at approximately $398,000. Ground Swell Capital LLC bought a new stake in I-Mab in the first quarter valued at approximately $53,000. HBK Sorce Advisory LLC bought a new stake in I-Mab in the first quarter valued at approximately $38,000. Millennium Management LLC boosted its holdings in I-Mab by 763.1% in 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 during the last quarter. Finally, Cantor Fitzgerald L. P. bought a new stake in I-Mab in the fourth quarter valued at approximately $119,000. 38.38% of the stock is currently owned by institutional investors.

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.