I-Mab (NASDAQ:IMAB) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of I-Mab (NASDAQ:IMAB) in a research note released on Friday, Benzinga reports. Needham & Company LLC currently has a $6.00 price objective on the stock.

A number of other research analysts have also recently issued reports on the company. Piper Sandler lowered their price objective on I-Mab from $15.00 to $10.00 and set an overweight rating for the company in a research note on Monday, March 18th. HC Wainwright reissued a buy rating and set a $8.00 price target (down previously from $18.00) on shares of I-Mab in a report on Monday, March 18th. Finally, Cantor Fitzgerald reiterated an overweight rating on shares of I-Mab in a research report on Friday, January 12th.

I-Mab Trading Down 0.6 %

Shares of IMAB stock opened at $1.80 on Friday. I-Mab has a fifty-two week low of $1.16 and a fifty-two week high of $3.76. The business’s 50 day moving average price is $1.79 and its 200-day moving average price is $1.68.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in I-Mab by 4.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,726 shares of the company’s stock valued at $548,000 after acquiring an additional 1,370 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of I-Mab by 0.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 479,503 shares of the company’s stock valued at $7,787,000 after purchasing an additional 1,500 shares during the last quarter. Aviva PLC lifted its holdings in shares of I-Mab by 18.4% during the 1st quarter. Aviva PLC now owns 17,400 shares of the company’s stock valued at $283,000 after purchasing an additional 2,700 shares during the last quarter. Northern Trust Corp raised its stake in I-Mab by 3.7% in the 1st quarter. Northern Trust Corp now owns 87,467 shares of the company’s stock worth $1,420,000 after acquiring an additional 3,113 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in I-Mab in the 1st quarter worth $65,000. Institutional investors own 38.38% of the company’s stock.

About I-Mab

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.