I-Mab (NASDAQ:IMAB) Price Target Raised to $5.00 at Needham & Company LLC

I-Mab (NASDAQ:IMAB - Free Report) had its target price hoisted by Needham & Company LLC from $4.00 to $5.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages have also recently commented on IMAB. HC Wainwright reduced 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 shares of I-Mab to a "strong-buy" rating in a research note on Thursday, February 27th.

I-Mab Stock Down 5.8%

Shares of IMAB stock traded down $0.15 on Friday, hitting $2.42. 587,233 shares of the stock were exchanged, compared to its average volume of 387,362. The business has a 50-day moving average of $1.50 and a 200 day moving average of $1.12. I-Mab has a fifty-two week low of $0.60 and a fifty-two week high of $3.08.

Hedge Funds Weigh In On I-Mab

Several hedge funds and other institutional investors have recently made changes to their positions in IMAB. Stonepine Capital Management LLC bought a new position in shares of I-Mab in the 1st quarter valued at about $398,000. Cantor Fitzgerald L. P. acquired a new stake in I-Mab in the 4th quarter valued at about $119,000. BNP Paribas Financial Markets bought a new position in I-Mab during the fourth quarter worth about $93,000. Millennium Management LLC grew its holdings in 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 purchasing an additional 86,424 shares during the period. Finally, Ground Swell Capital LLC acquired a new position in I-Mab during the first quarter worth approximately $53,000. 38.38% of the stock is 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.