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

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

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

I-Mab Stock Down 0.6 %

NASDAQ:IMAB opened at $1.80 on Friday. I-Mab has a 52 week low of $1.16 and a 52 week high of $3.76. The firm’s 50-day simple moving average is $1.79 and its 200 day simple moving average is $1.68.

Institutional Investors Weigh In On I-Mab

A number of hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new position in I-Mab in the 1st quarter valued at approximately $65,000. XTX Topco Ltd bought a new position in I-Mab in the 1st quarter valued at approximately $37,000. Sei Investments Co. raised its holdings in I-Mab by 141.2% in the 1st quarter. Sei Investments Co. now owns 12,215 shares of the company’s stock valued at $198,000 after buying an additional 7,151 shares during the last quarter. Mariner LLC bought a new position in I-Mab in the 4th quarter valued at approximately $52,000. Finally, Prelude Capital Management LLC raised its holdings in I-Mab by 243.2% in the 3rd quarter. Prelude Capital Management LLC now owns 15,620 shares of the company’s stock valued at $63,000 after buying an additional 11,069 shares during the last quarter. 38.38% of the stock is currently owned by institutional investors and hedge funds.

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.