I-Mab Sponsored ADR (NASDAQ:IMAB) Given Average Rating of "Buy" by Analysts

Key Points

• Analysts have given I-Mab Sponsored ADR (NASDAQ:IMAB) an average rating of "Buy", with five ratings firms recommending the stock and a one-year price target averaging $7.33.
• Institutional investors have recently increased their holdings, with Millennium Management LLC boosting its position by 763.1% and other hedge funds acquiring new stakes in the company.
• I-Mab's stock price opened at $4.13 and has ranged from a low of $0.60 to a high of $5.90 over the past twelve months.

Shares of I-Mab Sponsored ADR (NASDAQ:IMAB - Get Free Report) have received an average recommendation of "Buy" from the five ratings firms that are currently covering the stock, MarketBeat reports. Five analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $7.3333.

A number of research firms have recently issued reports on IMAB. Needham & Company LLC reissued a "buy" rating and set a $6.00 price objective on shares of I-Mab in a research report on Monday, September 8th. Loop Capital set a $8.00 target price on shares of I-Mab in a report on Thursday, August 28th. New Street Research set a $7.00 target price on shares of I-Mab in a report on Wednesday, September 10th. HC Wainwright reaffirmed a "buy" rating and issued a $7.00 price objective on shares of I-Mab in a research report on Thursday, August 21st. Finally, Leerink Partners set a $9.00 price objective on shares of I-Mab and gave the company an "outperform" rating in a report on Friday.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC boosted 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 during the period. Ground Swell Capital LLC purchased a new stake in shares of I-Mab in the 1st quarter valued at about $53,000. Stonepine Capital Management LLC acquired a new position in I-Mab in the 1st quarter valued at about $398,000. HBK Sorce Advisory LLC acquired a new position in I-Mab in the 1st quarter valued at about $38,000. Finally, Geode Capital Management LLC increased its position in I-Mab by 147.6% during the 2nd quarter. Geode Capital Management LLC now owns 54,562 shares of the company's stock worth $132,000 after purchasing an additional 32,525 shares during the period. 38.38% of the stock is currently owned by hedge funds and other institutional investors.

I-Mab Price Performance

IMAB stock opened at $4.13 on Friday. I-Mab has a twelve month low of $0.60 and a twelve month high of $5.90. The business's fifty day moving average is $3.85 and its 200-day moving average is $2.28.

I-Mab (NASDAQ:IMAB - Get Free Report) last announced its quarterly earnings results on Wednesday, August 20th. The company reported ($0.07) earnings per share for the quarter, topping analysts' consensus estimates of ($0.10) by $0.03. On average, equities research analysts forecast that I-Mab will post -0.56 EPS for the current year.

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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