Iambic Therapeutics (NASDAQ:IAM) Research Coverage Started at Bank of America

Bank of America initiated coverage on shares of Iambic Therapeutics (NASDAQ:IAM) in a research note issued to investors on Monday, MarketBeat Ratings reports. The firm issued a buy rating and a $30.00 price objective on the stock.

Separately, Wall Street Zen upgraded shares of Iambic Therapeutics to a “hold” rating in a report on Saturday, November 7th. Four equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $27.25.

Iambic Therapeutics Stock Up 4.1%

IAM opened at $15.39 on Monday. Iambic Therapeutics has a fifty-two week low of $9.60 and a fifty-two week high of $25.00.

Insider Activity at Iambic Therapeutics

In related news, Director Evan Lockwood Rachlin purchased 718,750 shares of the firm’s stock in a transaction dated Friday, October 16th. The stock was bought at an average price of $16.00 per share, with a total value of $11,500,000.00. Following the completion of the purchase, the director owned 2,588,248 shares in the company, valued at approximately $41,411,968. This represents a 38.45% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 22.90% of the company’s stock.

About Iambic Therapeutics

Iambic Therapeutics is a biotechnology company that uses artificial intelligence and computational methods to discover and develop medicines. Its approach combines machine-learning tools with laboratory research to identify potential drug candidates and guide their design. The company’s pipeline includes IAM1363, an investigational, brain-penetrant HER2 inhibitor being developed for cancers driven by HER2, including cancers that may spread to the brain. Iambic’s broader work focuses on advancing drug candidates generated through its technology platform.