BTIG Research Boosts I-Mab (NASDAQ:IMAB) Price Target to $9.00

I-Mab (NASDAQ:IMAB) had its price objective boosted by equities research analysts at BTIG Research from $7.00 to $9.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price objective points to a potential upside of 55.98% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Wall Street Zen raised shares of I-Mab from a “hold” rating to a “buy” rating in a research report on Saturday, October 11th. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of I-Mab in a research report on Thursday, August 21st. Brookline Capital Management reaffirmed a “buy” rating on shares of I-Mab in a research report on Thursday, August 28th. Leerink Partners initiated coverage on shares of I-Mab in a research report on Friday, October 3rd. They set an “outperform” rating and a $9.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of I-Mab in a research report on Wednesday, October 8th. One 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 company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.67.

I-Mab Price Performance

Shares of I-Mab stock opened at $5.77 on Friday. The firm has a 50-day moving average of $4.43 and a 200-day moving average of $2.62. I-Mab has a 52-week low of $0.60 and a 52-week high of $6.79.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IMAB. HBK Sorce Advisory LLC acquired a new position in shares of I-Mab in the first quarter valued at approximately $38,000. Ground Swell Capital LLC acquired a new position in shares of I-Mab in the first quarter valued at approximately $53,000. Geode Capital Management LLC increased its stake in shares of I-Mab by 147.6% in the second quarter. Geode Capital Management LLC now owns 54,562 shares of the company’s stock valued at $132,000 after buying an additional 32,525 shares during the period. Stonepine Capital Management LLC acquired a new position in shares of I-Mab in the first quarter valued at approximately $398,000. Finally, SG Americas Securities LLC increased its stake in shares of I-Mab by 6.6% in the second quarter. SG Americas Securities LLC now owns 876,353 shares of the company’s stock valued at $2,121,000 after buying an additional 54,312 shares during the period. 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.