JPMorgan Chase & Co. Initiates Coverage on Iambic Therapeutics (NASDAQ:IAM)

Analysts at JPMorgan Chase & Co. assumed coverage on shares of Iambic Therapeutics (NASDAQ:IAM) in a research report issued to clients and investors on Monday, Marketbeat reports. The firm set an “overweight” rating and a $22.00 price target on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 116.32% from the company’s previous close.

IAM has been the subject of several other reports. Wall Street Zen upgraded shares of Iambic Therapeutics to a “hold” rating in a report on Saturday. Bank of America assumed coverage on Iambic Therapeutics in a report on Monday. They set a “buy” rating and a $30.00 target price on the stock. Finally, Citigroup began coverage on Iambic Therapeutics in a research report on Monday. They issued a “buy” rating and a $22.00 target price for the company. Three research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $24.67.

Iambic Therapeutics Stock Performance

NASDAQ:IAM opened at $10.17 on Monday. Iambic Therapeutics has a 1 year low of $9.60 and a 1 year high of $25.00.

Insider Buying and Selling

In other news, Director Evan Lockwood Rachlin bought 718,750 shares of the firm’s stock in a transaction on Friday, October 16th. The stock was bought at an average cost of $16.00 per share, for a total transaction of $11,500,000.00. Following the completion of the acquisition, the director directly owned 2,588,248 shares in the company, valued at $41,411,968. This represents a 38.45% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Iambic Therapeutics Company Profile