I-Mab (NASDAQ:IMAB) Given Average Recommendation of “Buy” by Analysts

I-Mab (NASDAQ:IMAB) has been given a consensus rating of “Buy” by the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $88.60.

Several equities analysts have issued reports on IMAB shares. HC Wainwright restated a “buy” rating and issued a $95.00 price objective (up previously from $75.00) on shares of I-Mab in a research note on Wednesday, September 1st. Zacks Investment Research upgraded shares of I-Mab from a “sell” rating to a “hold” rating in a research note on Wednesday, August 11th. Daiwa Capital Markets started coverage on shares of I-Mab in a research note on Wednesday, June 2nd. They issued a “buy” rating for the company. China Renaissance Securities upped their price objective on shares of I-Mab from $78.91 to $102.98 and gave the company a “buy” rating in a research note on Thursday, July 8th. Finally, Cantor Fitzgerald upped their price objective on shares of I-Mab from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, July 13th.

NASDAQ:IMAB traded down $0.98 during trading hours on Friday, hitting $67.74. The company’s stock had a trading volume of 12,798 shares, compared to its average volume of 515,712. I-Mab has a 52-week low of $32.64 and a 52-week high of $85.40. The stock has a market capitalization of $5.21 billion, a P/E ratio of 64.83 and a beta of 0.71. The stock has a fifty day moving average of $72.06 and a 200-day moving average of $66.33.

Institutional investors and hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of I-Mab by 1,078.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,538 shares of the company’s stock worth $1,137,000 after buying an additional 12,389 shares during the period. Ward Ferry Management BVI Ltd lifted its position in I-Mab by 137.9% in the first quarter. Ward Ferry Management BVI Ltd now owns 1,791,496 shares of the company’s stock valued at $86,834,000 after purchasing an additional 1,038,559 shares during the period. Octagon Capital Advisors LP lifted its position in I-Mab by 16.6% in the first quarter. Octagon Capital Advisors LP now owns 530,050 shares of the company’s stock valued at $25,692,000 after purchasing an additional 75,500 shares during the period. Price T Rowe Associates Inc. MD acquired a new stake in I-Mab in the first quarter valued at about $33,387,000. Finally, E Fund Management Co. Ltd. acquired a new stake in I-Mab in the first quarter valued at about $17,249,000. Institutional investors and hedge funds own 37.17% of the company’s stock.

I-Mab Company Profile

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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Analyst Recommendations for I-Mab (NASDAQ:IMAB)

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