I-Mab (NASDAQ:IMAB) Now Covered by BTIG Research

BTIG Research started coverage on shares of I-Mab (NASDAQ:IMAB) in a research note published on Tuesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $7.00 price target on the stock.

Several other research analysts also recently weighed in on the company. Loop Capital set a $8.00 target price on I-Mab in a research note on Thursday, August 28th. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of I-Mab in a report on Thursday, August 21st. Brookline Capital Management reaffirmed a “buy” rating on shares of I-Mab in a report on Thursday, August 28th. Wall Street Zen upgraded shares of I-Mab from a “hold” rating to a “buy” rating in a research report on Saturday, August 23rd. Finally, Needham & Company LLC restated a “buy” rating and set a $6.00 price target on shares of I-Mab in a research report on Monday. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, I-Mab has a consensus rating of “Buy” and an average price target of $7.00.

I-Mab Price Performance

IMAB stock opened at $4.60 on Tuesday. I-Mab has a 52-week low of $0.60 and a 52-week high of $5.90. The company’s 50-day simple moving average is $3.30 and its 200-day simple moving average is $1.94.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IMAB. HBK Sorce Advisory LLC acquired a new position in shares of I-Mab during the 1st quarter valued at about $38,000. Ground Swell Capital LLC acquired a new stake in I-Mab during the first quarter worth about $53,000. Millennium Management LLC raised its stake 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 purchasing an additional 86,424 shares during the period. BNP Paribas Financial Markets purchased a new position in I-Mab during the fourth quarter worth about $93,000. Finally, Geode Capital Management LLC boosted its holdings in I-Mab by 147.6% in the 2nd quarter. Geode Capital Management LLC now owns 54,562 shares of the company’s stock valued at $132,000 after purchasing an additional 32,525 shares during the last quarter. Hedge funds and other 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.