I-Mab (NASDAQ:IMAB – Get Rating) had its price target cut by HC Wainwright from $95.00 to $80.00 in a research note issued on Wednesday, The Fly reports. HC Wainwright’s price objective would suggest a potential upside of 312.58% from the company’s current price.
IMAB has been the subject of a number of other reports. Piper Sandler dropped their target price on shares of I-Mab from $90.00 to $80.00 in a research note on Tuesday. Zacks Investment Research downgraded shares of I-Mab from a “hold” rating to a “sell” rating in a research note on Friday, February 11th. Finally, Siebert Williams Shank started coverage on shares of I-Mab in a research note on Thursday, December 9th. They issued a “buy” rating and a $96.00 target price for the company. One analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to MarketBeat.com, I-Mab has an average rating of “Buy” and a consensus target price of $84.43.
Shares of NASDAQ IMAB opened at $19.39 on Wednesday. I-Mab has a 1-year low of $12.00 and a 1-year high of $85.40. The company has a 50-day moving average of $22.66 and a two-hundred day moving average of $46.02.
Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in I-Mab by 30.2% in the fourth quarter. BlackRock Inc. now owns 2,464,740 shares of the company’s stock valued at $116,803,000 after purchasing an additional 572,142 shares in the last quarter. Zeal Asset Management Ltd increased its stake in I-Mab by 72.2% in the third quarter. Zeal Asset Management Ltd now owns 1,701,265 shares of the company’s stock valued at $125,009,000 after purchasing an additional 713,414 shares in the last quarter. Morgan Stanley increased its stake in I-Mab by 203.7% in the third quarter. Morgan Stanley now owns 1,433,812 shares of the company’s stock valued at $103,937,000 after purchasing an additional 961,765 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its stake in I-Mab by 16.7% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,400,000 shares of the company’s stock valued at $66,346,000 after purchasing an additional 200,094 shares in the last quarter. Finally, Pictet Asset Management SA increased its stake in I-Mab by 10.0% in the fourth quarter. Pictet Asset Management SA now owns 1,024,201 shares of the company’s stock valued at $48,537,000 after purchasing an additional 93,184 shares in the last quarter. 82.80% of the stock is owned by institutional investors and hedge funds.
About I-Mab (Get Rating)
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 III clinical trials to treat multiple myeloma and autoimmune diseases; Eftansomatropin alfa, a long-acting human growth hormone, which has completed Phase 3 clinical trials to treat pediatric growth hormone deficiency; Lemzoparlimab, a CD47 monoclonal antibody that has completed Phase 1a clinical trials with RBC-sparing differentiation; and Olamkicept, an IL-6 blocker that has completed Phase 2 clinical trials for the treatment of ulcerative colitis and autoimmune.
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