I-Mab (NASDAQ:IMAB) Lowered to “Hold” Rating by Wall Street Zen

I-Mab (NASDAQ:IMAB) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Sunday.

A number of other brokerages have also weighed in on IMAB. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 price objective on shares of I-Mab in a research report on Wednesday, July 9th. HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of I-Mab in a research report on Wednesday, July 9th.

I-Mab Trading Down 2.8%

Shares of IMAB stock opened at $2.10 on Friday. I-Mab has a fifty-two week low of $0.60 and a fifty-two week high of $3.08. The business’s 50 day moving average price is $1.90 and its 200-day moving average price is $1.25.

Institutional Trading of I-Mab

Several hedge funds have recently bought and sold shares of the stock. Stonepine Capital Management LLC bought a new position in shares of I-Mab in the first quarter worth about $398,000. Cantor Fitzgerald L. P. purchased a new stake in I-Mab during the fourth quarter valued at approximately $119,000. BNP Paribas Financial Markets bought a new position in shares of I-Mab during the 4th quarter valued at approximately $93,000. Millennium Management LLC increased 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 valued at $83,000 after purchasing an additional 86,424 shares during the last quarter. Finally, Ground Swell Capital LLC bought a new position in shares of I-Mab during the 1st quarter valued at approximately $53,000. Institutional investors own 38.38% of the company’s stock.

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.