I-Mab (NASDAQ:IMAB) Rating Increased to Buy at Wall Street Zen

I-Mab (NASDAQ:IMAB) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

A number of other equities analysts have also issued reports on the company. HC Wainwright restated a “buy” rating and issued a $7.00 target price on shares of I-Mab in a research note on Thursday. Needham & Company LLC boosted their price objective on I-Mab from $5.00 to $6.00 and gave the company a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $6.50.

I-Mab Stock Performance

Shares of IMAB stock opened at $5.09 on Friday. The business has a fifty day moving average of $2.81 and a 200 day moving average of $1.65. I-Mab has a 1 year low of $0.60 and a 1 year high of $5.90.

I-Mab (NASDAQ:IMAB) last issued its earnings results on Wednesday, August 20th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.03. Equities research analysts anticipate that I-Mab will post -0.56 EPS for the current year.

Hedge Funds Weigh In On I-Mab

Several institutional investors and hedge funds have recently modified their holdings of IMAB. BNP Paribas Financial Markets purchased a new position in shares of I-Mab in the 4th quarter valued at about $93,000. Cantor Fitzgerald L. P. purchased a new position in shares of I-Mab in the 4th quarter valued at about $119,000. Millennium Management LLC increased 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 valued at $83,000 after purchasing an additional 86,424 shares in the last quarter. HBK Sorce Advisory LLC purchased a new position in shares of I-Mab in the 1st quarter valued at about $38,000. Finally, Ground Swell Capital LLC purchased a new position in shares of I-Mab in the 1st quarter valued at about $53,000. Hedge funds and other institutional investors own 38.38% of the company’s stock.

I-Mab Company Profile

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.