Iambic Therapeutics (NASDAQ:IAM) Now Covered by Citigroup

Investment analysts at Citigroup initiated coverage on shares of Iambic Therapeutics (NASDAQ:IAM) in a research report issued to clients and investors on Monday, Marketbeat.com reports. The firm set a “buy” rating and a $22.00 price target on the stock. Citigroup‘s price target would indicate a potential upside of 116.32% from the stock’s previous close.

Several other equities analysts have also commented on the stock. Bank of America started coverage on shares of Iambic Therapeutics in a research report on Monday. They set a “buy” rating and a $30.00 price target for the company. Wall Street Zen upgraded shares of Iambic Therapeutics to a “hold” rating in a report on Saturday. Three research analysts have rated the stock with a Buy rating. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $24.67.

Iambic Therapeutics Price Performance

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

Insider Transactions at Iambic Therapeutics

In other news, Director Evan Lockwood Rachlin purchased 718,750 shares of the company’s stock in a transaction on Friday, October 16th. The stock was 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 directly owned 2,588,248 shares of the company’s stock, valued at $41,411,968. The trade was a 38.45% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

Iambic Therapeutics Company Profile