I-Mab’s (IMAB) Sell (D+) Rating Reiterated at Weiss Ratings

I-Mab (NASDAQ:IMAB)‘s stock had its “sell (d+)” rating reaffirmed by stock analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Several other analysts have also recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $6.00 price target on shares of I-Mab in a report on Monday, September 8th. Leerink Partnrs raised I-Mab to a “strong-buy” rating in a report on Friday, October 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price objective on shares of I-Mab in a report on Thursday, August 21st. Wall Street Zen raised I-Mab from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Finally, Loop Capital set a $8.00 price objective on I-Mab in a report on Thursday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $7.33.

I-Mab Price Performance

NASDAQ:IMAB opened at $5.07 on Wednesday. The stock has a 50 day simple moving average of $4.06 and a 200 day simple moving average of $2.38. I-Mab has a 1-year low of $0.60 and a 1-year high of $5.90.

I-Mab (NASDAQ:IMAB) last released its quarterly earnings results on Wednesday, August 20th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.03. On average, research analysts forecast that I-Mab will post -0.56 earnings per share for the current year.

Hedge Funds Weigh In On I-Mab

Several hedge funds and other institutional investors have recently modified their holdings of IMAB. Millennium Management LLC grew its position in I-Mab by 763.1% during the 4th quarter. Millennium Management LLC now owns 97,749 shares of the company’s stock worth $83,000 after acquiring an additional 86,424 shares during the last quarter. Ground Swell Capital LLC bought a new stake in shares of I-Mab in the 1st quarter valued at about $53,000. Stonepine Capital Management LLC acquired a new position in shares of I-Mab in the 1st quarter valued at about $398,000. HBK Sorce Advisory LLC acquired a new position in shares of I-Mab in the 1st quarter valued at about $38,000. Finally, Geode Capital Management LLC lifted its stake in shares of I-Mab by 147.6% in the 2nd quarter. Geode Capital Management LLC now owns 54,562 shares of the company’s stock valued at $132,000 after purchasing an additional 32,525 shares during the period. 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 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.