I-Mab (NASDAQ:IMAB) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of I-Mab (NASDAQ:IMAB) in a report published on Friday morning,Benzinga reports. Needham & Company LLC currently has a $4.00 price target on the stock.

Separately, Brookline Capital Management upgraded shares of I-Mab to a “strong-buy” rating in a research report on Thursday, February 27th.

I-Mab Stock Down 6.9 %

Shares of NASDAQ:IMAB opened at $0.68 on Friday. I-Mab has a twelve month low of $0.60 and a twelve month high of $2.00. The company has a 50 day moving average of $0.90 and a 200-day moving average of $1.03.

Institutional Trading of I-Mab

Institutional investors have recently made changes to their positions in the stock. Garden State Investment Advisory Services LLC purchased a new position in I-Mab in the third quarter valued at about $179,000. XTX Topco Ltd lifted its stake in shares of I-Mab by 140.8% in the 3rd quarter. XTX Topco Ltd now owns 43,039 shares of the company’s stock valued at $53,000 after purchasing an additional 25,163 shares during the last quarter. Millennium Management LLC increased its position in I-Mab by 763.1% during the fourth quarter. Millennium Management LLC now owns 97,749 shares of the company’s stock worth $83,000 after buying an additional 86,424 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of I-Mab in the fourth quarter worth about $93,000. Finally, Cantor Fitzgerald L. P. acquired a new position in shares of I-Mab during the 4th quarter valued at about $119,000. 38.38% of the stock is currently owned by institutional investors and hedge funds.

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.