Cantor Fitzgerald reiterated their overweight rating on shares of I-Mab (NASDAQ:IMAB – Free Report) in a research note published on Tuesday, Benzinga reports. The brokerage currently has a $25.00 target price on the stock.
A number of other equities research analysts have also recently commented on IMAB. HC Wainwright lowered their target price on I-Mab from $25.00 to $18.00 and set a buy rating on the stock in a report on Friday, August 18th. Needham & Company LLC reiterated a buy rating and set a $24.00 price target on shares of I-Mab in a report on Friday, August 18th.
I-Mab Trading Down 7.7 %
Institutional Trading of I-Mab
Hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC boosted its holdings in shares of I-Mab by 18.5% in the 2nd quarter. Renaissance Technologies LLC now owns 246,308 shares of the company’s stock valued at $736,000 after purchasing an additional 38,500 shares during the last quarter. BlackRock Inc. lifted its stake in shares of I-Mab by 5.8% in the 2nd quarter. BlackRock Inc. now owns 2,058,641 shares of the company’s stock valued at $6,155,000 after purchasing an additional 111,990 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of I-Mab by 6.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 597,374 shares of the company’s stock valued at $1,786,000 after purchasing an additional 37,079 shares in the last quarter. Mackenzie Financial Corp acquired a new position in shares of I-Mab in the 2nd quarter valued at about $94,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of I-Mab in the 2nd quarter valued at about $39,000. 22.56% of the stock is owned by institutional investors and hedge funds.
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 1b/2a for patients with membranous nephropathy; Eftansomatropin alfa, a long-acting growth hormone, which has completed Phase 3 clinical trials to treat pediatric growth hormone deficiency; Efineptakin alfa, a recombinant human IL-7 that is in Phase 2 for cancer treatment-related lymphopenia and cancer immunotherapy; and Lemzoparlimab, a CD47 monoclonal antibody that has completed Phase 2 clinical trial.
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