Iambic Therapeutics (NASDAQ:IAM) Stock Price Down 4.7% – What’s Next?

Iambic Therapeutics, Inc. (NASDAQ:IAM)’s share price was down 4.7% on Wednesday. The company traded as low as $13.96 and last traded at $14.09. 63,777 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 754,639 shares. The stock had previously closed at $14.78.

Wall Street Analyst Weigh In

Several analysts have recently commented on IAM shares. Citigroup began coverage on shares of Iambic Therapeutics in a report on Monday. They issued a “buy” rating and a $22.00 target price for the company. JPMorgan Chase & Co. started coverage on Iambic Therapeutics in a research report on Monday. They issued an “overweight” rating and a $22.00 price objective on the stock. Wall Street Zen upgraded Iambic Therapeutics to a “hold” rating in a research note on Saturday, November 7th. Jefferies Financial Group assumed coverage on Iambic Therapeutics in a research report on Tuesday. They set a “buy” rating and a $35.00 target price for the company. Finally, Bank of America began coverage on Iambic Therapeutics in a research note on Monday. They set a “buy” rating and a $30.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $27.25.

Iambic Therapeutics Trading Down 3.6%

Insider Buying and Selling at Iambic Therapeutics

In related news, Director Evan Lockwood Rachlin purchased 718,750 shares of the firm’s stock in a transaction dated Friday, October 16th. The stock was 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 in the company, valued at approximately $41,411,968. This trade represents a 38.45% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 22.90% of the stock is owned by corporate insiders.

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.