I-Mab's (IMAB) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of I-Mab (NASDAQ:IMAB - Free Report) in a research note released on Friday, Benzinga reports. Needham & Company LLC currently has a $6.00 price objective on the stock.

Other equities analysts have also issued reports about the company. HC Wainwright restated a buy rating and set a $8.00 price target (down from $18.00) on shares of I-Mab in a research report on Monday, March 18th. Cantor Fitzgerald restated an overweight rating on shares of I-Mab in a research report on Friday, January 12th. Finally, Piper Sandler cut their price objective on I-Mab from $15.00 to $10.00 and set an overweight rating on the stock in a research report on Monday, March 18th.

I-Mab Price Performance

IMAB remained flat at $1.81 on Friday. The company had a trading volume of 264,153 shares, compared to its average volume of 484,263. The stock's 50 day moving average price is $1.79 and its two-hundred day moving average price is $1.66. I-Mab has a fifty-two week low of $1.16 and a fifty-two week high of $3.78.

Institutional Investors Weigh In On I-Mab

A number of large investors have recently made changes to their positions in IMAB. BlackRock Inc. grew its position in shares of I-Mab by 38.1% in the 1st quarter. BlackRock Inc. now owns 3,403,271 shares of the company's stock worth $55,270,000 after buying an additional 938,531 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of I-Mab by 13,161.9% in the 4th quarter. JPMorgan Chase & Co. now owns 777,545 shares of the company's stock valued at $3,250,000 after purchasing an additional 771,682 shares during the period. Two Sigma Investments LP lifted its stake in shares of I-Mab by 880.5% in the 3rd quarter. Two Sigma Investments LP now owns 473,579 shares of the company's stock valued at $1,899,000 after purchasing an additional 425,279 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of I-Mab by 98.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 726,692 shares of the company's stock valued at $11,801,000 after purchasing an additional 360,273 shares during the period. Finally, GSA Capital Partners LLP lifted its stake in shares of I-Mab by 175.2% in the 4th quarter. GSA Capital Partners LLP now owns 538,119 shares of the company's stock valued at $1,022,000 after purchasing an additional 342,573 shares during the period. 38.38% of the stock is currently owned by institutional investors.

I-Mab Company Profile

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 1b/2a for patients with membranous nephropathy; Eftansomatropin alfa, a long-acting growth hormone, which has completed Phase 3 clinical trials to treat pediatric growth hormone deficiency; Efineptakin alfa, a recombinant human IL-7 that is in Phase 2 for cancer treatment-related lymphopenia and cancer immunotherapy; and Lemzoparlimab, a CD47 monoclonal antibody that has completed Phase 2 clinical trial.