I-Mab (NASDAQ:IMAB) Receives Consensus Rating of “Buy” from Brokerages

Shares of I-Mab (NASDAQ:IMAB) have received a consensus recommendation of “Buy” from the eight analysts that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $91.50.

A number of equities research analysts recently weighed in on the company. Siebert Williams Shank assumed coverage on I-Mab in a report on Thursday, December 9th. They issued a “buy” rating and a $96.00 price target on the stock. Needham & Company LLC upped their price target on I-Mab from $83.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, November 1st. Finally, Zacks Investment Research cut I-Mab from a “buy” rating to a “hold” rating in a report on Wednesday.

A number of hedge funds have recently bought and sold shares of the stock. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of I-Mab during the 2nd quarter worth $1,767,000. Octagon Capital Advisors LP lifted its stake in shares of I-Mab by 77.9% during the 2nd quarter. Octagon Capital Advisors LP now owns 943,156 shares of the company’s stock worth $79,178,000 after purchasing an additional 413,106 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of I-Mab by 4.2% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 77,631 shares of the company’s stock worth $5,627,000 after purchasing an additional 3,163 shares during the period. Krane Funds Advisors LLC lifted its stake in shares of I-Mab by 9,668.2% during the 2nd quarter. Krane Funds Advisors LLC now owns 19,634 shares of the company’s stock worth $1,648,000 after purchasing an additional 19,433 shares during the period. Finally, Korea Investment CORP purchased a new position in shares of I-Mab during the 2nd quarter worth $2,787,000. 60.63% of the stock is currently owned by hedge funds and other institutional investors.

IMAB opened at $40.50 on Thursday. The stock’s 50 day simple moving average is $53.52 and its 200 day simple moving average is $65.09. I-Mab has a 1-year low of $38.32 and a 1-year high of $85.40.

About I-Mab

I-Mab, a clinical stage biopharmaceutical company, discovers, develops, and commercializes biologics to treat cancer and autoimmune disorders. It is developing Felzartamab, a CD38 antibody that is in Phase III clinical trials to treat multiple myeloma and autoimmune diseases; Eftansomatropin alfa, a long-acting human growth hormone, which has completed Phase 3 clinical trials to treat pediatric growth hormone deficiency; Lemzoparlimab, a CD47 monoclonal antibody that has completed Phase 1a clinical trials with RBC-sparing differentiation; and Olamkicept, an IL-6 blocker that has completed Phase 2 clinical trials for the treatment of ulcerative colitis and autoimmune.

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Analyst Recommendations for I-Mab (NASDAQ:IMAB)

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