I-Mab (NASDAQ:IMAB) Price Target Cut to $7.00 by Analysts at HC Wainwright

I-Mab (NASDAQ:IMAB - Get Free Report) had its price objective decreased by stock analysts at HC Wainwright from $8.00 to $7.00 in a report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock.

IMAB has been the subject of several other research reports. Brookline Capital Management raised shares of I-Mab to a "strong-buy" rating in a research note on Thursday, February 27th. Needham & Company LLC reissued a "buy" rating and issued a $4.00 price objective on shares of I-Mab in a research note on Friday, April 4th.

I-Mab Trading Down 2.2 %

NASDAQ:IMAB traded down $0.02 during mid-day trading on Friday, reaching $0.67. The stock had a trading volume of 135,824 shares, compared to its average volume of 309,699. The business's 50 day moving average is $0.88 and its 200 day moving average is $1.02. I-Mab has a fifty-two week low of $0.60 and a fifty-two week high of $2.00.

Institutional Trading of I-Mab

Several hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd increased its position in I-Mab by 140.8% in the 3rd quarter. XTX Topco Ltd now owns 43,039 shares of the company's stock worth $53,000 after buying an additional 25,163 shares during the period. Millennium Management LLC grew its position in I-Mab by 763.1% in the 4th quarter. Millennium Management LLC now owns 97,749 shares of the company's stock worth $83,000 after purchasing an additional 86,424 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of I-Mab during the 4th quarter worth about $93,000. Cantor Fitzgerald L. P. bought a new position in shares of I-Mab during the 4th quarter worth about $119,000. Finally, Garden State Investment Advisory Services LLC acquired a new position in shares of I-Mab during the third quarter valued at about $179,000. Institutional investors own 38.38% of the company's stock.

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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.