I-Mab (NASDAQ:IMAB) Given Buy Rating at HC Wainwright

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

I-Mab Stock Performance

IMAB stock traded down $0.03 during midday trading on Friday, hitting $1.04. 262,157 shares of the stock were exchanged, compared to its average volume of 349,148. The stock’s 50-day moving average price is $1.19 and its 200-day moving average price is $1.41. I-Mab has a fifty-two week low of $0.99 and a fifty-two week high of $2.54.

I-Mab (NASDAQ:IMAB) last released its quarterly earnings results 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. Sell-side analysts forecast that I-Mab will post -0.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

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.