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

Needham & Company LLC reissued their buy rating on shares of I-Mab (NASDAQ:IMAB - Free Report) in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a $5.00 price target on the stock.

Separately, HC Wainwright reaffirmed a "buy" rating and set a $7.00 price target on shares of I-Mab in a research report on Wednesday.

I-Mab Stock Performance

Shares of IMAB stock traded down $0.26 during trading hours on Wednesday, hitting $2.05. 392,373 shares of the company were exchanged, compared to its average volume of 395,220. I-Mab has a one year low of $0.60 and a one year high of $3.08. The business's 50-day simple moving average is $1.75 and its two-hundred day simple moving average is $1.20.

Hedge Funds Weigh In On I-Mab

A number of hedge funds have recently added to or reduced their stakes in IMAB. HBK Sorce Advisory LLC bought a new position in shares of I-Mab during the first quarter valued at approximately $38,000. Ground Swell Capital LLC acquired a new stake in shares of I-Mab in the 1st quarter worth about $53,000. Millennium Management LLC increased 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 period. BNP Paribas Financial Markets acquired a new stake in shares of I-Mab in the 4th quarter worth about $93,000. Finally, Cantor Fitzgerald L. P. acquired a new stake in shares of I-Mab in the 4th quarter worth about $119,000. Institutional investors and hedge funds own 38.38% of the company's stock.

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.