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

HC Wainwright restated their buy rating on shares of I-Mab (NASDAQ:IMAB) in a report issued on Tuesday, Benzinga reports. The brokerage currently has a $8.00 target price on the stock.

I-Mab Stock Performance

NASDAQ:IMAB opened at $1.11 on Tuesday. The company has a fifty day moving average of $1.22 and a two-hundred day moving average of $1.58. I-Mab has a fifty-two week low of $0.99 and a fifty-two week high of $2.54.

I-Mab (NASDAQ:IMAB) last posted its quarterly earnings data on Wednesday, August 28th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.44. As a group, sell-side analysts anticipate that I-Mab will post -0.38 earnings per share for the current year.

Institutional Investors Weigh In On I-Mab

An institutional investor recently bought a new position in I-Mab stock. Bank of Montreal Can bought a new stake in I-Mab (NASDAQ:IMAB) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 244,875 shares of the company’s stock, valued at approximately $453,000. Bank of Montreal Can owned about 0.30% of I-Mab as of its most recent SEC filing. 38.38% of the stock is currently owned by hedge funds and other institutional investors.

I-Mab Company Profile

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 1b/2a for patients with membranous nephropathy; Eftansomatropin alfa, a long-acting growth hormone, which has completed Phase 3 clinical trials to treat pediatric growth hormone deficiency; Efineptakin alfa, a recombinant human IL-7 that is in Phase 2 for cancer treatment-related lymphopenia and cancer immunotherapy; and Lemzoparlimab, a CD47 monoclonal antibody that has completed Phase 2 clinical trial.