I-Mab (NASDAQ:IMAB) Stock Rating Lowered by Wall Street Zen

I-Mab (NASDAQ:IMAB) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Sunday.

A number of other equities analysts have also recently issued reports on the company. Brookline Capital Management reiterated a “buy” rating on shares of I-Mab in a report on Thursday, August 28th. HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of I-Mab in a report on Thursday, August 21st. Loop Capital set a $8.00 target price on I-Mab in a report on Thursday, August 28th. New Street Research set a $7.00 target price on I-Mab in a report on Wednesday, September 10th. Finally, BTIG Research increased their target price on I-Mab from $7.00 to $9.00 and gave the company a “buy” rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat, I-Mab has an average rating of “Moderate Buy” and a consensus price target of $7.67.

I-Mab Trading Down 9.5%

IMAB opened at $5.22 on Friday. The stock has a 50-day moving average price of $4.46 and a 200-day moving average price of $2.67. I-Mab has a 12-month low of $0.60 and a 12-month high of $6.79.

I-Mab (NASDAQ:IMAB) last posted its quarterly earnings data on Wednesday, August 20th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.03. On average, research analysts anticipate that I-Mab will post -0.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. HBK Sorce Advisory LLC bought a new position in shares of I-Mab in the 1st quarter worth approximately $38,000. Ground Swell Capital LLC bought a new position in shares of I-Mab in the 1st quarter worth approximately $53,000. Stonepine Capital Management LLC bought a new position in shares of I-Mab in the 1st quarter worth approximately $398,000. Geode Capital Management LLC raised its position in shares of I-Mab by 147.6% in the 2nd quarter. Geode Capital Management LLC now owns 54,562 shares of the company’s stock worth $132,000 after acquiring an additional 32,525 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of I-Mab by 6.6% in the 2nd quarter. SG Americas Securities LLC now owns 876,353 shares of the company’s stock worth $2,121,000 after acquiring an additional 54,312 shares in the last quarter. Institutional investors own 38.38% of the company’s stock.

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.