Needham & Company LLC restated their buy rating on shares of I-Mab (NASDAQ:IMAB - Free Report) in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a $5.00 price objective 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.
Read Our Latest Stock Report on I-Mab
I-Mab Stock Performance
Shares of IMAB stock traded up $0.08 during trading hours on Wednesday, reaching $2.13. 224,260 shares of the company's stock were exchanged, compared to its average volume of 395,009. The stock's 50 day moving average is $1.78 and its 200-day moving average is $1.21. I-Mab has a fifty-two week low of $0.60 and a fifty-two week high of $3.08.
Institutional Trading of I-Mab
A number of institutional investors have recently bought and sold shares of IMAB. BNP Paribas Financial Markets acquired a new stake in I-Mab in the 4th quarter worth approximately $93,000. Cantor Fitzgerald L. P. acquired a new stake in I-Mab in the 4th quarter worth approximately $119,000. Millennium Management LLC boosted its stake in 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 purchasing an additional 86,424 shares in the last quarter. HBK Sorce Advisory LLC acquired a new stake in I-Mab in the 1st quarter worth approximately $38,000. Finally, Ground Swell Capital LLC purchased a new position in I-Mab during the 1st quarter worth approximately $53,000. 38.38% of the stock is currently owned by institutional investors and hedge funds.
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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