I-Mab’s (IMAB) Buy Rating Reiterated at BTIG Research

BTIG Research reaffirmed their buy rating on shares of I-Mab (NASDAQ:IMAB) in a research note released on Friday,Benzinga reports. The firm currently has a $9.00 price objective on the stock.

Several other analysts also recently commented on the stock. Leerink Partners assumed coverage on shares of I-Mab in a report on Friday, October 3rd. They set an “outperform” rating and a $9.00 target price on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of I-Mab in a report on Wednesday, October 8th. Leerink Partnrs upgraded shares of I-Mab to a “strong-buy” rating in a report on Friday, October 3rd. HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of I-Mab in a report on Thursday, August 21st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $6.00 price target on shares of I-Mab in a research note on Monday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.67.

I-Mab Stock Down 3.9%

Shares of NASDAQ IMAB opened at $4.22 on Friday. The firm’s 50-day simple moving average is $4.47 and its 200 day simple moving average is $2.78. The company has a market cap of $344.61 million, a price-to-earnings ratio of -11.72 and a beta of 1.45. I-Mab has a 12-month low of $0.60 and a 12-month high of $6.79.

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, beating analysts’ consensus estimates of ($0.10) by $0.03. On average, equities analysts expect that I-Mab will post -0.56 earnings per share for the current year.

Hedge Funds Weigh In On I-Mab

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IMAB. HBK Sorce Advisory LLC bought a new position in I-Mab during the first quarter worth $38,000. Ground Swell Capital LLC bought a new position in I-Mab during the first quarter worth $53,000. Geode Capital Management LLC boosted its position in I-Mab by 147.6% during the second quarter. Geode Capital Management LLC now owns 54,562 shares of the company’s stock worth $132,000 after purchasing an additional 32,525 shares during the period. Stonepine Capital Management LLC bought a new position in I-Mab during the first quarter worth $398,000. Finally, SG Americas Securities LLC boosted its position 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 acquiring an additional 54,312 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.