I-Mab (NASDAQ:IMAB) Given New $7.00 Price Target at HC Wainwright

I-Mab (NASDAQ:IMAB) had its price target trimmed by HC Wainwright from $8.00 to $7.00 in a research note published on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the stock. Brookline Capital Management raised shares of I-Mab to a “strong-buy” rating in a report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $4.00 target price on shares of I-Mab in a report on Friday.

I-Mab Stock Performance

IMAB opened at $0.68 on Friday. The stock’s 50 day simple moving average is $0.90 and its 200 day simple moving average is $1.03. I-Mab has a 1 year low of $0.60 and a 1 year high of $2.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Garden State Investment Advisory Services LLC bought a new position in shares of I-Mab during the third quarter valued at $179,000. Cantor Fitzgerald L. P. purchased a new stake in I-Mab during the fourth quarter valued at $119,000. BNP Paribas Financial Markets purchased a new position in I-Mab in the fourth quarter worth about $93,000. Millennium Management LLC lifted its stake 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 purchasing an additional 86,424 shares during the period. Finally, XTX Topco Ltd grew its position in I-Mab by 140.8% during the third quarter. XTX Topco Ltd now owns 43,039 shares of the company’s stock valued at $53,000 after buying an additional 25,163 shares during the period. Institutional investors 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.