I-Mab's (IMAB) Sell (D+) Rating Reiterated at Weiss Ratings

Key Points

• I-Mab's stock has been reaffirmed with a "sell (D+)" rating by Weiss Ratings, indicating a negative outlook according to their analysis.
• Despite the sell rating, other analysts have shown optimism, with recommendations ranging from "buy" to "strong-buy" and target prices between $6.00 and $8.00.
• The stock has seen a significant increase of 16.0% recently and has a reported 52-week range between $0.60 and $5.90.

I-Mab (NASDAQ:IMAB - Get Free Report)'s stock had its "sell (d+)" rating restated by research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Other research analysts also recently issued reports about the company. Needham & Company LLC reiterated a "buy" rating and set a $6.00 price objective on shares of I-Mab in a report on Monday, September 8th. Loop Capital set a $8.00 price objective on I-Mab in a report on Thursday, August 28th. Leerink Partnrs upgraded I-Mab to a "strong-buy" rating in a report on Friday, October 3rd. Wall Street Zen upgraded I-Mab from a "hold" rating to a "buy" rating in a report on Friday, October 3rd. Finally, BTIG Research assumed coverage on I-Mab in a research report on Tuesday, September 9th. They set a "buy" rating and a $7.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $7.33.

I-Mab Trading Up 16.0%

NASDAQ:IMAB opened at $5.07 on Wednesday. I-Mab has a 52-week low of $0.60 and a 52-week high of $5.90. The stock has a 50-day simple moving average of $4.06 and a 200 day simple moving average of $2.38.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Millennium Management LLC lifted its position in shares of I-Mab by 763.1% in the fourth quarter. Millennium Management LLC now owns 97,749 shares of the company's stock valued at $83,000 after buying an additional 86,424 shares during the last quarter. HBK Sorce Advisory LLC acquired a new stake in shares of I-Mab in the first quarter valued at approximately $38,000. Ground Swell Capital LLC acquired a new stake in shares of I-Mab in the first quarter valued at approximately $53,000. Stonepine Capital Management LLC acquired a new stake in shares of I-Mab in the first quarter valued at approximately $398,000. Finally, Geode Capital Management LLC lifted its position in shares of I-Mab by 147.6% in the second quarter. Geode Capital Management LLC now owns 54,562 shares of the company's stock valued at $132,000 after buying an additional 32,525 shares during the last quarter. 38.38% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.