I-Mab (NASDAQ:IMAB) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of I-Mab (NASDAQ:IMAB) from a buy rating to a hold rating in a research note published on Sunday morning.

Several other research firms have also recently weighed in on IMAB. Brookline Capital Management reissued a “buy” rating on shares of I-Mab in a research report on Thursday, August 28th. Weiss Ratings reissued a “sell (d+)” rating on shares of I-Mab in a research report on Wednesday, October 8th. Loop Capital set a $8.00 price objective on I-Mab in a research report on Thursday, August 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $6.00 price target on shares of I-Mab in a research report on Monday, September 8th. Finally, Leerink Partnrs raised I-Mab to a “strong-buy” rating in a research report on Friday, October 3rd. 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’s stock. Based on data from MarketBeat.com, I-Mab currently has an average rating of “Moderate Buy” and a consensus target price of $7.67.

I-Mab Trading Down 12.0%

Shares of I-Mab stock opened at $5.77 on Friday. The stock has a fifty day simple moving average of $4.43 and a 200 day simple moving average of $2.64. I-Mab has a 12-month low of $0.60 and a 12-month high of $6.79.

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

Institutional Trading of I-Mab

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC raised its stake in shares of I-Mab by 6.6% during the 2nd quarter. SG Americas Securities LLC now owns 876,353 shares of the company’s stock valued at $2,121,000 after purchasing an additional 54,312 shares during the period. Geode Capital Management LLC raised its stake in shares of I-Mab by 147.6% during 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. Stonepine Capital Management LLC bought a new position in I-Mab in the 1st quarter worth about $398,000. Ground Swell Capital LLC bought a new position in I-Mab in the 1st quarter worth about $53,000. Finally, HBK Sorce Advisory LLC bought a new position in I-Mab in the 1st quarter worth about $38,000. 38.38% of the stock is currently owned by institutional investors.

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.