I-Mab (NASDAQ:IMAB) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of I-Mab (NASDAQ:IMABGet Rating) from a sell rating to a hold rating in a research report released on Wednesday morning, Zacks.com reports.

According to Zacks, “I-Mab is a clinical stage biopharmaceutical company. It engages in discovery, development and commercialization of biologics to treat diseases with significant unmet medical needs, particularly cancers and autoimmune disorders. I-Mab is based in SHANGHAI, China. “

IMAB has been the topic of several other research reports. Piper Sandler lowered their target price on I-Mab from $90.00 to $80.00 in a research note on Tuesday, March 29th. HC Wainwright lowered their target price on I-Mab from $95.00 to $80.00 and set a buy rating on the stock in a research note on Wednesday, March 30th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Buy and an average price target of $78.00.

NASDAQ IMAB opened at $8.27 on Wednesday. The stock’s 50-day moving average price is $13.95 and its two-hundred day moving average price is $29.71. I-Mab has a 1 year low of $8.12 and a 1 year high of $85.40.

Several hedge funds and other institutional investors have recently made changes to their positions in IMAB. Morgan Stanley grew its stake in shares of I-Mab by 104.1% in the 2nd quarter. Morgan Stanley now owns 472,047 shares of the company’s stock valued at $39,629,000 after buying an additional 240,741 shares in the last quarter. Advisor Group Holdings Inc. grew its stake in shares of I-Mab by 6,607.4% in the 3rd quarter. Advisor Group Holdings Inc. now owns 1,811 shares of the company’s stock valued at $131,000 after buying an additional 1,784 shares in the last quarter. Truist Financial Corp bought a new stake in shares of I-Mab in the 3rd quarter valued at approximately $299,000. Russell Investments Group Ltd. bought a new stake in shares of I-Mab in the 3rd quarter valued at approximately $292,000. Finally, BlackRock Inc. grew its stake in shares of I-Mab by 5.6% in the 3rd quarter. BlackRock Inc. now owns 1,892,598 shares of the company’s stock valued at $137,193,000 after buying an additional 100,726 shares in the last quarter. 96.17% of the stock is owned by institutional investors and hedge funds.

I-Mab Company Profile (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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