Iambic Therapeutics (NASDAQ:IAM) Stock Rated Buy in New Coverage at Citigroup

Citigroup initiated coverage on shares of Iambic Therapeutics (NASDAQ:IAM) in a report released on Monday morning, MarketBeat reports. The firm issued a buy rating and a $22.00 target price on the stock.

IAM has been the topic of a number of other research reports. Bank of America began coverage on Iambic Therapeutics in a research report on Monday. They set a “buy” rating and a $30.00 price objective on the stock. Wall Street Zen upgraded shares of Iambic Therapeutics to a “hold” rating in a report on Saturday, November 7th. Four research analysts have rated the stock with a Buy rating. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $27.25.

Iambic Therapeutics Price Performance

Shares of NASDAQ:IAM opened at $15.39 on Monday. Iambic Therapeutics has a 52 week low of $9.60 and a 52 week high of $25.00.

Insider Buying and Selling

In other news, Director Evan Lockwood Rachlin acquired 718,750 shares of the business’s stock in a transaction dated Friday, October 16th. The shares were acquired at an average cost 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 approximately $41,411,968. This trade 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. Corporate 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.