I-Mab (NASDAQ:IMAB) Trading 0.6% Higher – Still a Buy?

Shares of I-Mab (NASDAQ:IMAB) rose 0.6% during mid-day trading on Thursday . The stock traded as high as $0.86 and last traded at $0.84. Approximately 61,390 shares were traded during trading, a decline of 80% from the average daily volume of 306,874 shares. The stock had previously closed at $0.84.

Analyst Upgrades and Downgrades

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

I-Mab Price Performance

The company’s 50 day moving average is $0.94 and its 200 day moving average is $1.04.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. XTX Topco Ltd boosted its stake in shares of I-Mab by 140.8% in 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. Millennium Management LLC lifted its position in shares of I-Mab by 763.1% during the 4th quarter. Millennium Management LLC now owns 97,749 shares of the company’s stock valued at $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 during the 4th quarter worth $93,000. Cantor Fitzgerald L. P. bought a new position in shares of I-Mab in the fourth quarter worth $119,000. Finally, Garden State Investment Advisory Services LLC acquired a new position in I-Mab in the third quarter valued at about $179,000. Institutional investors and hedge funds 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.