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

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

IMAB has been the subject of several other reports. Loop Capital set a $8.00 price target on I-Mab in a research report on Thursday, August 28th. Leerink Partners began coverage on I-Mab in a research report on Friday, October 3rd. They issued an “outperform” rating and a $9.00 price target for the company. New Street Research set a $7.00 price target on I-Mab in a research report on Wednesday, September 10th. Weiss Ratings reissued a “sell (d+)” rating on shares of I-Mab in a research report on Wednesday. Finally, Leerink Partnrs raised I-Mab to a “strong-buy” rating in a research report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, I-Mab has an average rating of “Moderate Buy” and a consensus price target of $7.33.

I-Mab Stock Performance

IMAB opened at $4.77 on Friday. The stock’s fifty day moving average is $4.16 and its two-hundred day moving average is $2.43. I-Mab has a 52 week low of $0.60 and a 52 week high of $5.90.

I-Mab (NASDAQ:IMAB) last released its quarterly earnings data on Wednesday, August 20th. The company reported ($0.07) EPS for the quarter, topping 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 Trading of I-Mab

Several large investors have recently added to or reduced their stakes in IMAB. HBK Sorce Advisory LLC purchased a new stake in I-Mab during the 1st quarter valued at about $38,000. Ground Swell Capital LLC purchased a new stake in I-Mab during the 1st quarter valued at about $53,000. Millennium Management LLC grew its stake in 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. Geode Capital Management LLC grew its stake in I-Mab by 147.6% during 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. Finally, Stonepine Capital Management LLC purchased a new stake in I-Mab during the 1st quarter valued at about $398,000. 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.