I-Mab (NASDAQ:IMAB) Price Target Raised to $5.00

I-Mab (NASDAQ:IMAB - Get Free Report) had its price objective lifted by research analysts at Needham & Company LLC from $4.00 to $5.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's target price indicates a potential upside of 147.52% from the stock's current price.

Several other analysts also recently weighed in on IMAB. HC Wainwright dropped their target price on shares of I-Mab from $8.00 to $7.00 and set a "buy" rating for the company in a report on Friday, April 4th. Brookline Capital Management upgraded I-Mab to a "strong-buy" rating in a report on Thursday, February 27th.

I-Mab Stock Performance

Shares of NASDAQ IMAB opened at $2.02 on Friday. The company has a 50 day simple moving average of $1.47 and a 200-day simple moving average of $1.11. I-Mab has a 1 year low of $0.60 and a 1 year high of $3.08.

Hedge Funds Weigh In On I-Mab

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IMAB. HBK Sorce Advisory LLC purchased a new position in I-Mab in the first quarter valued at $38,000. Ground Swell Capital LLC purchased a new position in shares of I-Mab in the 1st quarter valued at about $53,000. Millennium Management LLC grew its position in shares of I-Mab by 763.1% during the fourth quarter. Millennium Management LLC now owns 97,749 shares of the company's stock worth $83,000 after buying an additional 86,424 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of I-Mab during the fourth quarter worth approximately $93,000. Finally, Cantor Fitzgerald L. P. acquired a new stake in I-Mab in the fourth quarter valued at approximately $119,000. Hedge funds and other institutional investors own 38.38% of the company's stock.

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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