I-Mab’s (IMAB) Buy Rating Reiterated at HC Wainwright

I-Mab (NASDAQ:IMAB)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research report issued on Tuesday, Benzinga reports. They currently have a $8.00 price target on the stock.

I-Mab Price Performance

NASDAQ:IMAB opened at $1.06 on Tuesday. The business’s 50-day moving average price is $1.25 and its two-hundred day moving average price is $1.59. I-Mab has a twelve month low of $0.99 and a twelve month high of $2.54.

I-Mab (NASDAQ:IMAB) last announced its earnings results on Wednesday, August 28th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.44. On average, analysts expect that I-Mab will post -0.38 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in I-Mab stock. Bank of Montreal Can purchased a new position in shares of I-Mab (NASDAQ:IMAB) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 244,875 shares of the company’s stock, valued at approximately $453,000. Bank of Montreal Can owned about 0.30% of I-Mab as of its most recent SEC filing. Hedge funds and other institutional investors own 38.38% 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 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.