I-Mab (NASDAQ:IMAB) Lifted to Hold at Zacks Investment Research

I-Mab (NASDAQ:IMABGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday, Zacks.com reports.

According to Zacks, “I-Mab is a clinical stage biopharmaceutical company. It engages in discovery, development and commercialization of biologics to treat diseases with significant unmet medical needs, particularly cancers and autoimmune disorders. I-Mab is based in SHANGHAI, China. “

Several other equities analysts have also issued reports on the company. HC Wainwright reduced their target price on I-Mab from $95.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, March 30th. Piper Sandler reduced their target price on I-Mab from $90.00 to $80.00 in a report on Tuesday, March 29th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $84.43.

Shares of NASDAQ IMAB traded up $0.39 during midday trading on Thursday, reaching $12.85. The company’s stock had a trading volume of 532,242 shares, compared to its average volume of 1,170,129. The firm has a 50 day moving average price of $17.89 and a 200-day moving average price of $37.54. I-Mab has a 12-month low of $11.70 and a 12-month high of $85.40.

A number of large investors have recently added to or reduced their stakes in the business. Penserra Capital Management LLC increased its position in I-Mab by 32.4% in the third quarter. Penserra Capital Management LLC now owns 960 shares of the company’s stock worth $69,000 after buying an additional 235 shares during the last quarter. American International Group Inc. purchased a new stake in I-Mab in the third quarter worth $29,000. PNC Financial Services Group Inc. increased its position in I-Mab by 303.1% in the third quarter. PNC Financial Services Group Inc. now owns 657 shares of the company’s stock worth $48,000 after buying an additional 494 shares during the last quarter. American Century Companies Inc. increased its position in I-Mab by 20.4% in the third quarter. American Century Companies Inc. now owns 3,052 shares of the company’s stock worth $221,000 after buying an additional 517 shares during the last quarter. Finally, Eaton Vance Management purchased a new stake in I-Mab in the third quarter worth $54,000. 82.80% of the stock is owned by institutional investors and hedge funds.

About I-Mab (Get Rating)

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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