I-Mab’s (IMAB) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of I-Mab (NASDAQ:IMAB) in a report released on Friday morning,Benzinga reports. They currently have a $8.00 price objective on the stock.

I-Mab Trading Down 2.8 %

Shares of NASDAQ IMAB traded down $0.03 during mid-day trading on Friday, reaching $1.04. The company had a trading volume of 262,157 shares, compared to its average volume of 349,148. The firm has a 50 day simple moving average of $1.19 and a two-hundred day simple moving average of $1.41. I-Mab has a 52-week low of $0.99 and a 52-week high of $2.54.

I-Mab (NASDAQ:IMAB) last issued its quarterly earnings data on Wednesday, August 28th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.51) by $0.44. On average, sell-side analysts expect that I-Mab will post -0.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On I-Mab

Several large investors have recently modified their holdings of IMAB. Bank of Montreal Can acquired a new position in shares of I-Mab in the 2nd quarter valued at $453,000. XTX Topco Ltd grew its position in I-Mab by 140.8% during the 3rd quarter. XTX Topco Ltd now owns 43,039 shares of the company’s stock worth $53,000 after purchasing an additional 25,163 shares during the last quarter. Garden State Investment Advisory Services LLC acquired a new position in I-Mab in the third quarter valued at $179,000. Finally, Caligan Partners LP raised its holdings in shares of I-Mab by 3.7% in the third quarter. Caligan Partners LP now owns 3,499,330 shares of the company’s stock valued at $4,339,000 after buying an additional 124,539 shares during the last quarter. 38.38% of the stock is owned by institutional investors and hedge funds.

I-Mab Company Profile

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.