Iambic Therapeutics, Inc. (NASDAQ:IAM) Stock Rated “Moderate Buy” by Sell-Side Analysts

Iambic Therapeutics, Inc. (NASDAQ:IAM) has earned an average recommendation of “Moderate Buy” from the five analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $27.25.

IAM has been the subject of a number of research analyst reports. JPMorgan Chase & Co. initiated coverage on Iambic Therapeutics in a research note on Monday. They issued an “overweight” rating and a $22.00 target price for the company. Bank of America initiated coverage on Iambic Therapeutics in a research report on Monday. They set a “buy” rating and a $30.00 price target on the stock. Citigroup assumed coverage on Iambic Therapeutics in a research note on Monday. They issued a “buy” rating and a $22.00 price target on the stock. Wall Street Zen upgraded Iambic Therapeutics to a “hold” rating in a report on Saturday, November 7th. Finally, Zacks Research assumed coverage on Iambic Therapeutics in a research report on Tuesday. They set a “hold” rating for the company.

Iambic Therapeutics Trading Up 4.1%

Iambic Therapeutics stock opened at $15.39 on Thursday. Iambic Therapeutics has a fifty-two week low of $9.60 and a fifty-two week high of $25.00.

Insider Activity

In related news, Director Evan Lockwood Rachlin purchased 718,750 shares of the business’s stock in a transaction that occurred on Friday, October 16th. The shares were bought at an average price of $16.00 per share, for a total transaction of $11,500,000.00. Following the purchase, the director directly owned 2,588,248 shares of the company’s stock, valued at approximately $41,411,968. This represents a 38.45% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 22.90% of the company’s stock.

About Iambic Therapeutics

Iambic Therapeutics is a biotechnology company that uses artificial intelligence and computational methods to discover and develop medicines. Its approach combines machine-learning tools with laboratory research to identify potential drug candidates and guide their design. The company’s pipeline includes IAM1363, an investigational, brain-penetrant HER2 inhibitor being developed for cancers driven by HER2, including cancers that may spread to the brain. Iambic’s broader work focuses on advancing drug candidates generated through its technology platform.