I-Mab’s (IMAB) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of I-Mab (NASDAQ:IMAB) in a research note issued to investors on Friday morning,Benzinga reports. Needham & Company LLC currently has a $4.00 price objective on the stock.

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

I-Mab Trading Down 6.9 %

NASDAQ IMAB opened at $0.68 on Friday. The firm’s 50 day moving average price is $0.90 and its 200-day moving average price is $1.03. I-Mab has a 52-week low of $0.60 and a 52-week high of $2.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. XTX Topco Ltd boosted its stake in 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 acquiring an additional 25,163 shares in the last quarter. Millennium Management LLC increased its position in 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 buying an additional 86,424 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in I-Mab in the fourth quarter valued at about $93,000. Cantor Fitzgerald L. P. acquired a new stake in I-Mab in the fourth quarter worth about $119,000. Finally, Garden State Investment Advisory Services LLC purchased a new stake in shares of I-Mab during the third quarter worth about $179,000. 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.