I-Mab (NASDAQ:IMAB) Raised to "Buy" at Wall Street Zen

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

Several other research firms have also recently weighed in on IMAB. Needham & Company LLC restated a "buy" rating and issued a $5.00 price target on shares of I-Mab in a research note on Wednesday, July 9th. HC Wainwright reaffirmed a "buy" rating and issued a $7.00 price objective on shares of I-Mab in a report on Wednesday, July 9th.

I-Mab Stock Down 0.9%

NASDAQ:IMAB traded down $0.02 during trading hours on Friday, reaching $2.12. 89,299 shares of the company traded hands, compared to its average volume of 392,790. I-Mab has a 1 year low of $0.60 and a 1 year high of $3.08. The business's 50-day moving average price is $1.80 and its two-hundred day moving average price is $1.22.

Institutional Investors Weigh In On I-Mab

Institutional investors and hedge funds have recently modified their holdings of the business. HBK Sorce Advisory LLC purchased a new position in I-Mab during the 1st quarter worth $38,000. Ground Swell Capital LLC acquired a new stake in shares of I-Mab in the 1st quarter worth $53,000. Millennium Management LLC boosted its position in shares of I-Mab by 763.1% in the 4th quarter. Millennium Management LLC now owns 97,749 shares of the company's stock worth $83,000 after purchasing an additional 86,424 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in I-Mab during the 4th quarter worth about $93,000. Finally, Cantor Fitzgerald L. P. acquired a new stake in I-Mab during the 4th quarter worth about $119,000. 38.38% of the stock is owned by 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.