I-Mab (NASDAQ:IMAB) Receives Buy Rating from HC Wainwright

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

I-Mab Stock Performance

IMAB stock opened at $1.04 on Friday. I-Mab has a 1 year low of $0.99 and a 1 year high of $2.54. The business has a 50 day simple moving average of $1.19 and a 200-day simple moving average of $1.40.

I-Mab (NASDAQ:IMAB) last posted its quarterly earnings results on Wednesday, August 28th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.51) by $0.44. As a group, equities research analysts predict that I-Mab will post -0.41 EPS for the current fiscal year.

Hedge Funds Weigh In On I-Mab

Several institutional investors and hedge funds have recently bought and sold shares of the company. XTX Topco Ltd raised its position in shares of I-Mab by 140.8% during the 3rd quarter. XTX Topco Ltd now owns 43,039 shares of the company’s stock valued at $53,000 after buying an additional 25,163 shares during the period. Garden State Investment Advisory Services LLC acquired a new stake in I-Mab during the third quarter worth $179,000. Bank of Montreal Can acquired a new stake in I-Mab during the second quarter worth $453,000. Finally, Caligan Partners LP raised its position in 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 purchasing an additional 124,539 shares during the period. 38.38% of the stock is currently 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.