I-Mab (NASDAQ:IMAB) Stock Price Up 0.6% – Should You Buy?

I-Mab (NASDAQ:IMAB) shares rose 0.6% during mid-day trading on Thursday . The company traded as high as $0.86 and last traded at $0.84. Approximately 61,390 shares changed hands during trading, a decline of 80% from the average daily volume of 306,874 shares. The stock had previously closed at $0.84.

Analysts Set New Price Targets

Separately, Brookline Capital Management upgraded shares of I-Mab to a “strong-buy” rating in a research note on Thursday, February 27th.

I-Mab Stock Performance

The business’s 50 day moving average price is $0.94 and its 200 day moving average price is $1.04.

Institutional Trading of I-Mab

Several institutional investors have recently bought and sold shares of the business. XTX Topco Ltd grew its stake in I-Mab by 140.8% in the 3rd quarter. XTX Topco Ltd now owns 43,039 shares of the company’s stock valued at $53,000 after acquiring an additional 25,163 shares during the period. Millennium Management LLC grew its position in shares of I-Mab by 763.1% in the fourth quarter. Millennium Management LLC now owns 97,749 shares of the company’s stock valued at $83,000 after purchasing an additional 86,424 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of I-Mab during the fourth quarter worth about $93,000. Cantor Fitzgerald L. P. purchased a new position in I-Mab in the 4th quarter valued at about $119,000. Finally, Garden State Investment Advisory Services LLC acquired a new stake in I-Mab in the 3rd quarter worth about $179,000. 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.