I-Mab's (IMAB) Sell (D-) Rating Reaffirmed at Weiss Ratings
Weiss Ratings has reaffirmed a "sell (d-)" rating on I-Mab (NASDAQ:IMAB) shares. Other brokerages have set various target prices, with Loop Capital at $8.00 and Leerink Partners at $9.00. I-Mab's stock rose 2.5% to $4.76, with a market cap of $388.29 million. The company reported earnings of ($0.07) per share, exceeding estimates. Institutional investors hold 38.38% of the stock. I-Mab is a clinical-stage biopharmaceutical company focused on immuno-oncology and immuno-inflammation diseases, currently developing several treatments in clinical trials.
I-Mab (NASDAQ:IMAB - Get Free Report)'s stock had its "sell (d-)" rating reissued by analysts at Weiss Ratings in a note issued to investors on Friday,Weiss Ratings reports.
Several other brokerages have also recently commented on IMAB. Loop Capital set a $8.00 price objective on shares of I-Mab in a research note on Thursday, August 28th. Leerink Partners assumed coverage on shares of I-Mab in a research report on Friday, October 3rd. They set an "outperform" rating and a $9.00 target price for the company. New Street Research set a $7.00 target price on shares of I-Mab in a research report on Wednesday, September 10th. Needham & Company LLC reiterated a "buy" rating and set a $6.00 target price on shares of I-Mab in a research report on Friday, October 24th. Finally, Leerink Partnrs upgraded shares of I-Mab to a "strong-buy" rating in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, I-Mab has an average rating of "Moderate Buy" and an average price target of $7.67.
View Our Latest Stock Analysis on IMAB
I-Mab Stock Up 2.5%
IMAB traded up $0.12 during trading on Friday, reaching $4.76. 1,512,693 shares of the company were exchanged, compared to its average volume of 2,165,293. The company's 50-day moving average is $4.47 and its two-hundred day moving average is $2.88. The company has a market cap of $388.29 million, a price-to-earnings ratio of -13.21 and a beta of 1.45. I-Mab has a 12-month low of $0.60 and a 12-month high of $6.79.
I-Mab (NASDAQ:IMAB - Get Free Report) last issued its quarterly earnings data on Wednesday, August 20th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.10) by $0.03. Equities analysts forecast that I-Mab will post -0.56 earnings per share for the current year.
Hedge Funds Weigh In On I-Mab
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC grew its position in I-Mab by 147.6% during the 2nd quarter. Geode Capital Management LLC now owns 54,562 shares of the company's stock worth $132,000 after acquiring an additional 32,525 shares during the last quarter. SG Americas Securities LLC grew its position in I-Mab by 6.6% during the 2nd quarter. SG Americas Securities LLC now owns 876,353 shares of the company's stock worth $2,121,000 after acquiring an additional 54,312 shares during the last quarter. Ground Swell Capital LLC bought a new stake in I-Mab during the 1st quarter valued at $53,000. Finally, Stonepine Capital Management LLC bought a new stake in I-Mab during the 1st quarter valued at $398,000. 38.38% 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 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.
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