I-Mab’s (IMAB) “Buy” Rating Reiterated at Needham & Company LLC

I-Mab (NASDAQ:IMAB)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a research note issued on Friday,Benzinga reports. They currently have a $4.00 price objective on the stock. Needham & Company LLC’s target price suggests a potential upside of 447.87% from the company’s current price.

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

I-Mab Stock Performance

NASDAQ:IMAB opened at $0.73 on Friday. The stock’s 50 day moving average price is $0.91 and its 200 day moving average price is $1.03. I-Mab has a 52 week low of $0.70 and a 52 week high of $2.00.

Hedge Funds Weigh In On I-Mab

Large investors have recently made changes to their positions in the business. XTX Topco Ltd increased its position in I-Mab by 140.8% in the 3rd quarter. XTX Topco Ltd now owns 43,039 shares of the company’s stock worth $53,000 after buying an additional 25,163 shares during the period. Millennium Management LLC grew its stake 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 worth $83,000 after acquiring an additional 86,424 shares during the last quarter. BNP Paribas Financial Markets bought a new position in I-Mab during the fourth quarter worth $93,000. Cantor Fitzgerald L. P. bought a new stake in I-Mab in the 4th quarter valued at $119,000. Finally, Garden State Investment Advisory Services LLC acquired a new stake in I-Mab during the third quarter worth about $179,000. Institutional investors and hedge funds own 38.38% of the company’s stock.

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.