Iambic Therapeutics (NASDAQ:IAM) Coverage Initiated by Analysts at Zacks Research

Equities research analysts at Zacks Research initiated coverage on shares of Iambic Therapeutics (NASDAQ:IAM) in a research report issued to clients and investors on Tuesday, Zacks reports. The brokerage set a “hold” rating on the stock.

Other equities research analysts also recently issued reports about the company. Bank of America started coverage on Iambic Therapeutics in a research report on Monday. They set a “buy” rating and a $30.00 price target on the stock. Wall Street Zen upgraded shares of Iambic Therapeutics to a “hold” rating in a research report on Saturday, November 7th. Jefferies Financial Group initiated coverage on Iambic Therapeutics in a research report on Tuesday. They issued a “buy” rating and a $35.00 target price on the stock. JPMorgan Chase & Co. assumed coverage on shares of Iambic Therapeutics in a research report on Monday. They set an “overweight” rating and a $22.00 price target on the stock. Finally, Citigroup initiated coverage on Iambic Therapeutics in a research note on Monday. They set a “buy” rating and a $22.00 price objective on the stock. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $27.25.

Iambic Therapeutics Stock Performance

NASDAQ:IAM opened at $15.39 on Tuesday. Iambic Therapeutics has a twelve month low of $9.60 and a twelve month high of $25.00.

Insider Activity

In other Iambic Therapeutics news, Director Evan Lockwood Rachlin purchased 718,750 shares of Iambic Therapeutics stock in a transaction dated Friday, October 16th. The shares were acquired at an average price of $16.00 per share, with a total value of $11,500,000.00. Following the completion of the transaction, the director owned 2,588,248 shares of the company’s stock, valued at $41,411,968. This trade represents a 38.45% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 22.90% of the company’s stock.

Iambic Therapeutics Company Profile

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.