Needham & Company LLC Lowers I-Mab (NASDAQ:IMAB) Price Target to $6.00

I-Mab (NASDAQ:IMABFree Report) had its target price cut by Needham & Company LLC from $8.00 to $6.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also recently commented on IMAB. Cantor Fitzgerald restated an overweight rating on shares of I-Mab in a report on Friday, January 12th. HC Wainwright restated a buy rating and issued a $8.00 price target (down from $18.00) on shares of I-Mab in a report on Monday. Finally, Piper Sandler cut their price target on shares of I-Mab from $15.00 to $10.00 and set an overweight rating on the stock in a report on Monday.

Get Our Latest Research Report on I-Mab

I-Mab Stock Down 2.7 %

I-Mab stock opened at $1.81 on Friday. I-Mab has a 52-week low of $1.16 and a 52-week high of $3.88. The firm’s fifty day moving average is $1.80 and its 200 day moving average is $1.63.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of I-Mab by 138.7% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 22,666 shares of the company’s stock valued at $318,000 after buying an additional 13,171 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of I-Mab by 4,842.0% in the 1st quarter. JPMorgan Chase & Co. now owns 116,137 shares of the company’s stock valued at $1,886,000 after purchasing an additional 113,787 shares during the last quarter. Citigroup Inc. raised its position in I-Mab by 199.6% during the 1st quarter. Citigroup Inc. now owns 66,441 shares of the company’s stock worth $1,079,000 after buying an additional 44,264 shares during the last quarter. Acadian Asset Management LLC purchased a new position in I-Mab during the 1st quarter worth approximately $65,000. Finally, Panagora Asset Management Inc. raised its position in I-Mab by 94.1% during the 1st quarter. Panagora Asset Management Inc. now owns 26,425 shares of the company’s stock worth $429,000 after buying an additional 12,812 shares during the last quarter. 22.56% of the stock is currently owned by institutional investors.

I-Mab Company Profile

(Get Free Report)

I-Mab, a clinical stage biopharmaceutical company, discovers, develops, and commercializes biologics to treat cancer and autoimmune disorders. It is developing Felzartamab, a CD38 antibody that is in Phase 1b/2a for patients with membranous nephropathy; Eftansomatropin alfa, a long-acting growth hormone, which has completed Phase 3 clinical trials to treat pediatric growth hormone deficiency; Efineptakin alfa, a recombinant human IL-7 that is in Phase 2 for cancer treatment-related lymphopenia and cancer immunotherapy; and Lemzoparlimab, a CD47 monoclonal antibody that has completed Phase 2 clinical trial.

Featured Stories

Receive News & Ratings for I-Mab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for I-Mab and related companies with MarketBeat.com's FREE daily email newsletter.