I-Mab (NASDAQ:IMAB) Upgraded to Strong-Buy at Leerink Partnrs

I-Mab (NASDAQ:IMAB) was upgraded by investment analysts at Leerink Partnrs to a “strong-buy” rating in a report issued on Friday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. Leerink Partners started coverage on shares of I-Mab in a report on Friday. They issued an “outperform” rating and a $9.00 price target on the stock. Loop Capital set a $8.00 target price on shares of I-Mab in a report on Thursday, August 28th. HC Wainwright reissued a “buy” rating and set a $7.00 target price on shares of I-Mab in a report on Thursday, August 21st. Weiss Ratings reissued a “sell (d+)” rating on shares of I-Mab in a report on Saturday, September 27th. Finally, BTIG Research started coverage on shares of I-Mab in a report on Tuesday, September 9th. They set a “buy” rating and a $7.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $7.33.

I-Mab Stock Up 4.6%

NASDAQ:IMAB opened at $4.32 on Friday. The firm’s 50 day moving average is $3.90 and its 200 day moving average is $2.30. I-Mab has a 12 month low of $0.60 and a 12 month high of $5.90.

I-Mab (NASDAQ:IMAB) last posted its quarterly earnings results on Wednesday, August 20th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.03. As a group, equities research analysts anticipate that I-Mab will post -0.56 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Millennium Management LLC increased its holdings in shares of I-Mab by 763.1% in the fourth quarter. Millennium Management LLC now owns 97,749 shares of the company’s stock worth $83,000 after purchasing an additional 86,424 shares during the period. Ground Swell Capital LLC bought a new position in shares of I-Mab in the first quarter worth $53,000. Stonepine Capital Management LLC bought a new position in shares of I-Mab in the first quarter worth $398,000. HBK Sorce Advisory LLC bought a new position in shares of I-Mab in the first quarter worth $38,000. Finally, Geode Capital Management LLC increased its holdings in shares of I-Mab by 147.6% in the second quarter. Geode Capital Management LLC now owns 54,562 shares of the company’s stock worth $132,000 after purchasing an additional 32,525 shares during the period. Institutional investors own 38.38% of the company’s stock.

About I-Mab

I-Mab, a clinical stage biopharmaceutical company, discovers, develops, and commercializes biologics in the fields of immuno-oncology and immuno-inflammation diseases primarily in the United States. It is developing Uliledlimab, a CD73 neutralizing antibody, which is in Phase 2 clinical trial for the treatment of solid tumors; Givastomig, a bi-specific antibody that is in Phase 1 clinical trial for the treatment of gastric and other cancers; and Ragistomig, a programmed cell death ligand-based tumor-dependent T cell engager, which is in Phase 1 clinical trial for the treatment of for solid tumors.