I-Mab (NASDAQ:IMAB) Receives Average Rating of “Buy” from Analysts

Shares of I-Mab (NASDAQ:IMABGet Rating) have been assigned a consensus rating of “Buy” from the eight analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $89.83.

IMAB has been the subject of a number of recent research reports. Piper Sandler lowered their price objective on I-Mab from $90.00 to $80.00 in a research note on Tuesday, March 29th. Zacks Investment Research raised I-Mab from a “sell” rating to a “hold” rating in a report on Friday. Finally, HC Wainwright reduced their target price on I-Mab from $95.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, March 30th.

IMAB opened at $13.21 on Friday. The business has a 50 day moving average of $19.12 and a 200-day moving average of $39.17. I-Mab has a 52 week low of $12.00 and a 52 week high of $85.40.

Institutional investors and hedge funds have recently modified their holdings of the stock. American International Group Inc. purchased a new position in I-Mab during the third quarter valued at $29,000. PNC Financial Services Group Inc. lifted its position in I-Mab by 303.1% during the third quarter. PNC Financial Services Group Inc. now owns 657 shares of the company’s stock valued at $48,000 after purchasing an additional 494 shares in the last quarter. Eaton Vance Management purchased a new position in I-Mab during the third quarter valued at $54,000. Penserra Capital Management LLC lifted its position in I-Mab by 32.4% during the third quarter. Penserra Capital Management LLC now owns 960 shares of the company’s stock valued at $69,000 after purchasing an additional 235 shares in the last quarter. Finally, Advisor Group Holdings Inc. lifted its position in I-Mab by 6,607.4% during the third quarter. Advisor Group Holdings Inc. now owns 1,811 shares of the company’s stock valued at $131,000 after purchasing an additional 1,784 shares in the last quarter. 82.80% of the stock is owned by institutional investors.

I-Mab Company Profile (Get Rating)

I-Mab, a clinical stage biopharmaceutical company, discovers, develops, and commercializes biologics to treat cancer and autoimmune disorders. It is developing Felzartamab, a CD38 antibody that is in Phase III clinical trials to treat multiple myeloma and autoimmune diseases; Eftansomatropin alfa, a long-acting human growth hormone, which has completed Phase 3 clinical trials to treat pediatric growth hormone deficiency; Lemzoparlimab, a CD47 monoclonal antibody that has completed Phase 1a clinical trials with RBC-sparing differentiation; and Olamkicept, an IL-6 blocker that has completed Phase 2 clinical trials for the treatment of ulcerative colitis and autoimmune.

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Analyst Recommendations for I-Mab (NASDAQ:IMAB)

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