Iambic Therapeutics (NASDAQ:IAM) Stock Picked Up by Analysts at Zacks Research

Research analysts at Zacks Research started coverage on shares of Iambic Therapeutics (NASDAQ:IAM) in a research report issued to clients and investors on Tuesday, Zacks reports. The firm set a “hold” rating on the stock.

Other equities analysts have also recently issued research reports about the company. Jefferies Financial Group initiated coverage on Iambic Therapeutics in a report on Tuesday. They set a “buy” rating and a $35.00 price target for the company. Wall Street Zen upgraded Iambic Therapeutics to a “hold” rating in a research note on Saturday, November 7th. Citigroup started coverage on Iambic Therapeutics in a research report on Monday. They issued a “buy” rating and a $22.00 price objective for the company. Bank of America started coverage on Iambic Therapeutics in a research report on Monday. They issued a “buy” rating and a $30.00 price objective for the company. Finally, JPMorgan Chase & Co. initiated coverage on Iambic Therapeutics in a research note on Monday. They set an “overweight” rating and a $22.00 target price for the company. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.25.

Iambic Therapeutics Stock Up 4.1%

Shares of IAM stock opened at $15.39 on Tuesday. Iambic Therapeutics has a 52-week low of $9.60 and a 52-week high of $25.00.

Insiders Place Their Bets

In other news, Director Evan Lockwood Rachlin bought 718,750 shares of the company’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 acquisition, the director owned 2,588,248 shares of the company’s stock, valued at $41,411,968. This represents a 38.45% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 22.90% of the stock is owned by insiders.

Iambic Therapeutics Company Profile

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.