I-Mab (NASDAQ:IMAB) Stock Price Down 3.8%

I-Mab (NASDAQ:IMAB - Get Free Report) shares dropped 3.8% during mid-day trading on Friday . The stock traded as low as $1.23 and last traded at $1.26. Approximately 150,879 shares changed hands during trading, a decline of 56% from the average daily volume of 345,044 shares. The stock had previously closed at $1.31.Wall Street Analyst Weigh InSeparately, Needham & Company LLC reissued a "buy" rating and set a $6.00 target price on shares of I-Mab in a research note on Friday, April 12th.Read Our Latest Analysis on I-MabI-Mab Stock Down 3.8 %The stock has a 50 day simple moving average of $1.63 and a 200-day simple moving average of $1.73. Hedge Funds Weigh In On I-MabA hedge fund recently bought a new stake in I-Mab stock. abrdn plc bought a new position in I-Mab (NASDAQ:IMAB - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 162,580 shares of the company's stock, valued at approximately $309,000. abrdn plc owned 0.20% of I-Mab as of its most recent filing with the SEC. 38.38% of the stock is currently owned by institutional investors and hedge funds. About I-Mab (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 ArticlesFive stocks we like better than I-MabBuy P&G Now, Before It Sets A New All-Time HighShould You Invest in Bitcoin? Pros and ConsInsider Buying Explained: What Investors Need to KnowAmazon Stock is Primed to Rebound Strongly After AI Bubble BurstsHow to Choose Top Rated StocksShell Stock: Oil & Gas Giant Committed to Buybacks and DividendsThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.→ Biggest opportunity for monthly dividends in the energy sector (From Investors Alley) (Ad)Should you invest $1,000 in I-Mab right now?Before you consider I-Mab, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and I-Mab wasn't on the list.While I-Mab currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here