Iambic Therapeutics (NASDAQ:IAM) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of Iambic Therapeutics (NASDAQ:IAM) in a research note published on Monday morning, MarketBeat.com reports. The brokerage issued an overweight rating and a $22.00 target price on the stock.

IAM has been the subject of a number of other research reports. Wall Street Zen upgraded Iambic Therapeutics to a “hold” rating in a research report on Saturday, November 7th. Bank of America assumed coverage on Iambic Therapeutics in a research report on Monday. They issued a “buy” rating and a $30.00 target price on the stock. Finally, Citigroup started coverage on Iambic Therapeutics in a report on Monday. They set a “buy” rating and a $22.00 price target for the company. Four analysts have rated the stock with a Buy rating. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $27.25.

Iambic Therapeutics Stock Performance

Shares of IAM opened at $15.39 on Monday. Iambic Therapeutics has a 12-month low of $9.60 and a 12-month high of $25.00.

Insiders Place Their Bets

In other news, Director Evan Lockwood Rachlin acquired 718,750 shares of the firm’s stock in a transaction on Friday, October 16th. The stock was acquired at an average price of $16.00 per share, with a total value of $11,500,000.00. Following the completion of the purchase, the director directly owned 2,588,248 shares in the company, valued at approximately $41,411,968. This trade represents a 38.45% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 22.90% of the stock is owned by company insiders.

About Iambic Therapeutics

Iambic Therapeutics is a biotechnology company that uses artificial intelligence and computational methods to discover and develop medicines. Its approach combines machine-learning tools with laboratory research to identify potential drug candidates and guide their design. The company’s pipeline includes IAM1363, an investigational, brain-penetrant HER2 inhibitor being developed for cancers driven by HER2, including cancers that may spread to the brain. Iambic’s broader work focuses on advancing drug candidates generated through its technology platform.