I-Mab (NASDAQ:IMAB) Rating Reiterated by HC Wainwright

I-Mab (NASDAQ:IMAB)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a report issued on Tuesday, Benzinga reports. They presently have a $8.00 price target on the stock.

I-Mab Stock Performance

Shares of NASDAQ IMAB opened at $1.09 on Tuesday. I-Mab has a 1 year low of $0.99 and a 1 year high of $2.54. The company’s 50-day moving average is $1.23 and its 200 day moving average is $1.58.

I-Mab (NASDAQ:IMAB) last posted its earnings results on Wednesday, August 28th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.44. On average, research analysts anticipate that I-Mab will post -0.38 EPS for the current fiscal year.

Hedge Funds Weigh In On I-Mab

A hedge fund recently bought a new stake in I-Mab stock. Bank of Montreal Can purchased a new stake in shares of I-Mab (NASDAQ:IMAB) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 244,875 shares of the company’s stock, valued at approximately $453,000. Bank of Montreal Can owned 0.30% of I-Mab at the end of the most recent reporting period. Hedge funds and other institutional investors own 38.38% of the company’s stock.

About I-Mab

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.