HC Wainwright Reaffirms Buy Rating for I-Mab (NASDAQ:IMAB)

I-Mab (NASDAQ:IMAB)‘s stock had its “buy” rating reissued by HC Wainwright in a research note issued on Thursday,Benzinga reports. They presently have a $7.00 target price on the stock. HC Wainwright’s target price would indicate a potential upside of 37.52% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 price target on shares of I-Mab in a research note on Wednesday, July 9th. Wall Street Zen cut I-Mab from a “buy” rating to a “hold” rating in a research note on Sunday, July 20th. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $6.50.

I-Mab Trading Up 8.1%

NASDAQ:IMAB opened at $5.09 on Thursday. I-Mab has a one year low of $0.60 and a one year high of $5.90. The business’s 50-day simple moving average is $2.81 and its 200 day simple moving average is $1.65.

I-Mab (NASDAQ:IMAB) last released its quarterly earnings results on Wednesday, August 20th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.03. Sell-side analysts forecast that I-Mab will post -0.56 earnings per share for the current year.

Institutional Trading of I-Mab

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC raised its position in shares of I-Mab by 6.6% during the 2nd quarter. SG Americas Securities LLC now owns 876,353 shares of the company’s stock worth $2,121,000 after purchasing an additional 54,312 shares during the period. Stonepine Capital Management LLC acquired a new stake in shares of I-Mab during the 1st quarter worth approximately $398,000. Cantor Fitzgerald L. P. acquired a new stake in shares of I-Mab during the 4th quarter worth approximately $119,000. BNP Paribas Financial Markets acquired a new stake in shares of I-Mab during the 4th quarter worth approximately $93,000. Finally, Millennium Management LLC raised 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 worth $83,000 after purchasing an additional 86,424 shares during the period. 38.38% of the stock is currently owned by institutional investors and hedge funds.

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.