Needham & Company LLC reiterated their buy rating on shares of I-Mab (NASDAQ:IMAB - Free Report) in a report released on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a $5.00 price objective on the stock.
Separately, HC Wainwright restated a "buy" rating and issued a $7.00 price objective on shares of I-Mab in a report on Wednesday.
Check Out Our Latest Stock Analysis on IMAB
I-Mab Price Performance
NASDAQ:IMAB traded up $0.08 during midday trading on Wednesday, hitting $2.13. 224,260 shares of the stock were exchanged, compared to its average volume of 394,539. The business has a 50-day moving average price of $1.75 and a two-hundred day moving average price of $1.20. I-Mab has a one year low of $0.60 and a one year high of $3.08.
Institutional Trading of I-Mab
Hedge funds and other institutional investors have recently made changes to their positions in the business. HBK Sorce Advisory LLC acquired a new position in I-Mab in the first quarter worth approximately $38,000. Ground Swell Capital LLC bought a new stake in shares of I-Mab during the 1st quarter worth $53,000. Millennium Management LLC grew its holdings in shares of I-Mab by 763.1% in the 4th quarter. Millennium Management LLC now owns 97,749 shares of the company's stock worth $83,000 after acquiring an additional 86,424 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of I-Mab during the fourth quarter worth $93,000. Finally, Cantor Fitzgerald L. P. acquired a new stake in shares of I-Mab during the fourth quarter worth $119,000. 38.38% of the stock is currently owned by institutional investors.
About I-Mab
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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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