HC Wainwright Reaffirms “Buy” Rating for I-Mab (NASDAQ:IMAB)

I-Mab (NASDAQ:IMAB)‘s stock had its “buy” rating reiterated by HC Wainwright in a report issued on Friday,Benzinga reports. They currently have a $8.00 price objective on the stock.

I-Mab Stock Performance

NASDAQ IMAB opened at $1.04 on Friday. The stock’s 50 day simple moving average is $1.19 and its 200-day simple moving average is $1.41. I-Mab has a 1-year low of $0.99 and a 1-year high of $2.54.

I-Mab (NASDAQ:IMAB) last posted its quarterly earnings data on Wednesday, August 28th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.51) by $0.44. As a group, sell-side analysts forecast that I-Mab will post -0.41 EPS for the current year.

Hedge Funds Weigh In On I-Mab

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bank of Montreal Can purchased a new position in I-Mab in the 2nd quarter worth approximately $453,000. Caligan Partners LP increased its holdings in shares of I-Mab by 3.7% in the third quarter. Caligan Partners LP now owns 3,499,330 shares of the company’s stock valued at $4,339,000 after purchasing an additional 124,539 shares during the last quarter. Garden State Investment Advisory Services LLC purchased a new position in I-Mab during the third quarter worth approximately $179,000. Finally, XTX Topco Ltd boosted its stake in I-Mab by 140.8% during the third 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 last quarter. 38.38% of the stock is currently owned by institutional investors and hedge funds.

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.