I-Mab (NASDAQ:IMAB) Given New $7.00 Price Target at HC Wainwright

I-Mab (NASDAQ:IMAB) had its target price cut by HC Wainwright from $8.00 to $7.00 in a research report released on Friday,Benzinga reports. They currently have a buy rating on the stock.

IMAB has been the subject of several other research reports. Brookline Capital Management upgraded shares of I-Mab to a “strong-buy” rating in a report on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and set a $4.00 target price on shares of I-Mab in a report on Friday.

I-Mab Trading Down 6.9 %

Shares of IMAB opened at $0.68 on Friday. The firm has a 50-day simple moving average of $0.90 and a two-hundred day simple moving average of $1.03. I-Mab has a 1-year low of $0.60 and a 1-year high of $2.00.

Hedge Funds Weigh In On I-Mab

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