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

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

Other equities research analysts have also issued reports about the stock. Loop Capital set a $8.00 target price on shares of I-Mab in a report on Thursday, August 28th. BTIG Research started coverage on shares of I-Mab in a research report on Tuesday, September 9th. They issued a “buy” rating and a $7.00 price objective on the stock. Brookline Capital Management reissued a “buy” rating on shares of I-Mab in a research report on Thursday, August 28th. Needham & Company LLC reissued a “buy” rating and issued a $6.00 price objective on shares of I-Mab in a research report on Monday, September 8th. Finally, HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of I-Mab in a research report on Thursday, August 21st. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $7.00.

I-Mab Stock Performance

Shares of IMAB stock opened at $3.79 on Friday. I-Mab has a one year low of $0.60 and a one year high of $5.90. The firm’s 50 day moving average price is $3.57 and its 200-day moving average price is $2.10.

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

Institutional Trading of I-Mab

Large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets acquired a new stake in shares of I-Mab in the 4th quarter worth $93,000. Millennium Management LLC lifted its stake in shares of I-Mab by 763.1% in the 4th 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. HBK Sorce Advisory LLC acquired a new stake in shares of I-Mab in the 1st quarter worth $38,000. Ground Swell Capital LLC acquired a new stake in shares of I-Mab in the 1st quarter worth $53,000. Finally, Stonepine Capital Management LLC acquired a new stake in shares of I-Mab in the 1st quarter worth $398,000. Institutional investors and hedge funds 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.