I-Mab (NASDAQ:IMAB) Raised to Strong-Buy at Leerink Partnrs

I-Mab (NASDAQ:IMAB) was upgraded by equities research analysts at Leerink Partnrs to a “strong-buy” rating in a report issued on Friday,Zacks.com reports.

Several other analysts also recently commented on the company. Wall Street Zen upgraded I-Mab from a “hold” rating to a “buy” rating in a research note on Friday. Brookline Capital Management reiterated a “buy” rating on shares of I-Mab in a research note on Thursday, August 28th. Leerink Partners started coverage on I-Mab in a research note on Friday. They set an “outperform” rating and a $9.00 target price on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of I-Mab in a research note on Saturday, September 27th. Finally, BTIG Research started coverage on I-Mab in a research note on Tuesday, September 9th. They set a “buy” rating and a $7.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, I-Mab currently has an average rating of “Moderate Buy” and an average target price of $7.33.

I-Mab Stock Performance

I-Mab stock opened at $4.32 on Friday. The stock’s 50 day moving average is $3.90 and its 200 day moving average is $2.31. I-Mab has a twelve month low of $0.60 and a twelve month high of $5.90.

I-Mab (NASDAQ:IMAB) last issued its earnings results on Wednesday, August 20th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.03. On average, research analysts anticipate that I-Mab will post -0.56 EPS for the current year.

Institutional Investors Weigh In On I-Mab

A number of institutional investors and hedge funds have recently bought and sold shares of IMAB. Millennium Management LLC raised 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 valued at $83,000 after acquiring an additional 86,424 shares during the period. HBK Sorce Advisory LLC bought a new stake in I-Mab during the first quarter valued at about $38,000. Ground Swell Capital LLC bought a new stake in I-Mab during the first quarter valued at about $53,000. Stonepine Capital Management LLC bought a new stake in I-Mab during the first quarter valued at about $398,000. Finally, Geode Capital Management LLC raised its holdings in I-Mab by 147.6% during the second quarter. Geode Capital Management LLC now owns 54,562 shares of the company’s stock valued at $132,000 after acquiring an additional 32,525 shares during the period. 38.38% of the stock is owned by institutional investors.

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.