Iambic Therapeutics (NASDAQ:IAM) Stock Rated “Overweight” in New Coverage at JPMorgan Chase & Co.

Analysts at JPMorgan Chase & Co. assumed coverage on shares of Iambic Therapeutics (NASDAQ:IAM) in a report released on Monday, MarketBeat reports. The firm set an “overweight” rating and a $22.00 price target on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 116.32% from the company’s current price.

Several other equities research analysts have also weighed in on the stock. Bank of America assumed coverage on shares of Iambic Therapeutics in a research note on Monday. They set a “buy” rating and a $30.00 price objective on the stock. Citigroup initiated coverage on Iambic Therapeutics in a research note on Monday. They issued a “buy” rating and a $22.00 target price for the company. Finally, Wall Street Zen raised Iambic Therapeutics to a “hold” rating in a report on Saturday. Three investment analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $24.67.

Iambic Therapeutics Price Performance

Iambic Therapeutics stock opened at $10.17 on Monday. Iambic Therapeutics has a 1 year low of $9.60 and a 1 year high of $25.00.

Insider Transactions at Iambic Therapeutics

In related news, Director Evan Lockwood Rachlin bought 718,750 shares of the business’s stock in a transaction on Friday, October 16th. The shares were bought at an average cost of $16.00 per share, for a total transaction of $11,500,000.00. Following the completion of the purchase, the director owned 2,588,248 shares of the company’s stock, valued at $41,411,968. This represents a 38.45% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Iambic Therapeutics Company Profile