Hhlr Advisors LTD. Decreases Stake in I-Mab (NASDAQ:IMAB)

Hhlr Advisors LTD. reduced its stake in shares of I-Mab (NASDAQ:IMAB - Free Report) by 13.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,980,568 shares of the company's stock after selling 928,652 shares during the period. I-Mab makes up approximately 0.2% of Hhlr Advisors LTD.'s investment portfolio, making the stock its 23rd biggest holding. Hhlr Advisors LTD. owned 7.34% of I-Mab worth $5,083,000 at the end of the most recent reporting period.

Separately, Garden State Investment Advisory Services LLC purchased a new stake in I-Mab in the third quarter valued at $179,000. 38.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on IMAB. HC Wainwright lowered their target price on I-Mab from $8.00 to $7.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. Brookline Capital Management raised shares of I-Mab to a "strong-buy" rating in a research note on Thursday, February 27th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $4.00 target price on shares of I-Mab in a research note on Friday, April 4th.

I-Mab Stock Performance

NASDAQ IMAB traded up $0.08 during trading hours on Friday, reaching $0.95. The company's stock had a trading volume of 191,827 shares, compared to its average volume of 309,515. The company's 50-day moving average is $0.83 and its two-hundred day moving average is $0.96. I-Mab has a 1-year low of $0.60 and a 1-year high of $2.00.

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.