I-Mab (NASDAQ:IMAB) Shares Up 3.7% – Should You Buy?

I-Mab (NASDAQ:IMAB)’s share price was up 3.7% on Tuesday . The company traded as high as $1.14 and last traded at $1.13. Approximately 226,763 shares changed hands during trading, a decline of 35% from the average daily volume of 349,270 shares. The stock had previously closed at $1.09.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and issued a $8.00 target price on shares of I-Mab in a report on Tuesday, September 17th.

I-Mab Stock Performance

The firm’s 50-day simple moving average is $1.20 and its 200 day simple moving average is $1.45.

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

Institutional Investors Weigh In On I-Mab

A hedge fund recently bought a new stake in I-Mab stock. Bank of Montreal Can acquired a new stake in shares of I-Mab (NASDAQ:IMAB) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 244,875 shares of the company’s stock, valued at approximately $453,000. Bank of Montreal Can owned about 0.30% of I-Mab at the end of the most recent reporting period. 38.38% of the stock is owned by institutional investors and hedge funds.

About I-Mab

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.