I-Mab (NASDAQ:IMAB) Raised to Buy at Wall Street Zen

I-Mab (NASDAQ:IMAB) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Other research analysts have also issued reports about the company. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 target price on shares of I-Mab in a research report on Wednesday. HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of I-Mab in a research report on Wednesday.

I-Mab Stock Up 3.9%

Shares of NASDAQ:IMAB opened at $2.13 on Friday. The business’s 50-day moving average is $1.78 and its 200 day moving average is $1.21. I-Mab has a 1 year low of $0.60 and a 1 year high of $3.08.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Stonepine Capital Management LLC acquired a new position in shares of I-Mab in the first quarter valued at about $398,000. Cantor Fitzgerald L. P. acquired a new position in shares of I-Mab in the fourth quarter valued at about $119,000. BNP Paribas Financial Markets acquired a new stake in I-Mab during the fourth quarter worth about $93,000. Millennium Management LLC grew its holdings in I-Mab by 763.1% during the fourth quarter. Millennium Management LLC now owns 97,749 shares of the company’s stock worth $83,000 after acquiring an additional 86,424 shares during the period. Finally, Ground Swell Capital LLC acquired a new stake in I-Mab during the first quarter worth about $53,000. 38.38% of the stock is owned by institutional investors and hedge funds.

About I-Mab

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.