I-Mab (NASDAQ:IMAB) Rating Increased to Strong-Buy at Brookline Capital Management

Brookline Capital Management upgraded shares of I-Mab (NASDAQ:IMAB) to a strong-buy rating in a research note issued to investors on Thursday,Zacks.com reports.

Separately, HC Wainwright reiterated a “buy” rating and issued a $8.00 target price on shares of I-Mab in a research note on Friday, November 15th.

I-Mab Stock Performance

I-Mab stock opened at $0.93 on Thursday. I-Mab has a 12 month low of $0.84 and a 12 month high of $2.00. The stock’s 50 day simple moving average is $0.99 and its two-hundred day simple moving average is $1.08.

Hedge Funds Weigh In On I-Mab

A number of large investors have recently bought and sold shares of the business. XTX Topco Ltd grew its holdings in I-Mab by 140.8% in the third quarter. XTX Topco Ltd now owns 43,039 shares of the company’s stock valued at $53,000 after purchasing an additional 25,163 shares during the period. Millennium Management LLC lifted its position in shares of 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 buying an additional 86,424 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in I-Mab in the 4th quarter valued at $93,000. Cantor Fitzgerald L. P. purchased a new stake in I-Mab in the 4th quarter worth $119,000. Finally, Garden State Investment Advisory Services LLC acquired a new position in I-Mab during the third quarter worth $179,000. 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.