Shares of I-Mab (NASDAQ:IMAB) have been given a consensus rating of "Buy" by the seven ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $87.00.
A number of research firms have commented on IMAB. Cantor Fitzgerald lifted their price objective on shares of I-Mab from $90.00 to $95.00 and gave the stock an "overweight" rating in a report on Tuesday, July 13th. Daiwa Capital Markets began coverage on shares of I-Mab in a report on Wednesday, June 2nd. They set a "buy" rating for the company. China Renaissance Securities boosted their price target on shares of I-Mab from $78.91 to $102.98 and gave the company a "buy" rating in a report on Thursday, July 8th. HC Wainwright restated a "buy" rating on shares of I-Mab in a research note on Tuesday, March 30th. Finally, Zacks Investment Research cut shares of I-Mab from a "hold" rating to a "sell" rating in a research report on Thursday, June 10th.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Hillhouse Capital Advisors LTD. increased its stake in I-Mab by 342.1% in the 1st quarter. Hillhouse Capital Advisors LTD. now owns 6,616,170 shares of the company's stock worth $320,686,000 after purchasing an additional 5,119,630 shares in the last quarter. Cederberg Capital Ltd purchased a new position in I-Mab in the 1st quarter worth about $103,181,000. Ward Ferry Management BVI Ltd increased its stake in I-Mab by 137.9% in the 1st quarter. Ward Ferry Management BVI Ltd now owns 1,791,496 shares of the company's stock worth $86,834,000 after purchasing an additional 1,038,559 shares in the last quarter. Artisan Partners Limited Partnership increased its stake in I-Mab by 2.5% in the 1st quarter. Artisan Partners Limited Partnership now owns 877,891 shares of the company's stock worth $42,551,000 after purchasing an additional 21,179 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in I-Mab by 17.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 742,569 shares of the company's stock worth $35,992,000 after purchasing an additional 109,181 shares in the last quarter. 32.16% of the stock is currently owned by hedge funds and other institutional investors.
IMAB stock opened at $77.99 on Thursday. I-Mab has a twelve month low of $27.50 and a twelve month high of $85.40. The firm has a market capitalization of $6.00 billion, a P/E ratio of 73.58 and a beta of 0.75. The stock's 50 day moving average is $75.02.
I-Mab, a clinical stage biopharmaceutical company, discovers, develops, and commercializes biologics to treat cancer and autoimmune disorders. It is developing Felzartamab, a CD38 antibody that is in Phase III clinical trials to treat multiple myeloma and autoimmune diseases; Eftansomatropin alfa, a long-acting human growth hormone, which has completed Phase 3 clinical trials to treat pediatric growth hormone deficiency; Lemzoparlimab, a CD47 monoclonal antibody that has completed Phase 1a clinical trials with RBC-sparing differentiation; and Olamkicept, an IL-6 blocker that has completed Phase 2 clinical trials for the treatment of ulcerative colitis and autoimmune.
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