I-Mab (NASDAQ:IMAB) Hits New 12-Month Low at $10.44

I-Mab (NASDAQ:IMABGet Rating)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $10.44 and last traded at $10.51, with a volume of 855543 shares. The stock had previously closed at $11.81.

Several equities analysts have commented on IMAB shares. HC Wainwright dropped their target price on shares of I-Mab from $95.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, March 30th. Piper Sandler dropped their target price on shares of I-Mab from $90.00 to $80.00 in a research report on Tuesday, March 29th. Finally, Zacks Investment Research cut shares of I-Mab from a “hold” rating to a “sell” rating in a research report on Wednesday, May 4th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, I-Mab currently has a consensus rating of “Buy” and a consensus target price of $84.43.

The company’s 50 day moving average price is $15.23 and its 200-day moving average price is $33.42.

Hedge funds have recently modified their holdings of the company. Northern Trust Corp grew its stake in I-Mab by 3.7% in the 1st quarter. Northern Trust Corp now owns 87,467 shares of the company’s stock valued at $1,420,000 after buying an additional 3,113 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in I-Mab by 4.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,726 shares of the company’s stock valued at $548,000 after buying an additional 1,370 shares in the last quarter. Bridgewater Associates LP grew its stake in I-Mab by 68.1% in the 1st quarter. Bridgewater Associates LP now owns 311,998 shares of the company’s stock valued at $5,067,000 after buying an additional 126,384 shares in the last quarter. Vanguard Group Inc. grew its stake in I-Mab by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 1,004,609 shares of the company’s stock valued at $16,315,000 after buying an additional 29,729 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in I-Mab by 31.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 617,000 shares of the company’s stock valued at $10,020,000 after buying an additional 146,000 shares in the last quarter. Institutional investors own 96.17% of the company’s stock.

About I-Mab (NASDAQ:IMAB)

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 III clinical trials to treat multiple myeloma and autoimmune diseases; Eftansomatropin alfa, a long-acting human growth hormone, which has completed Phase 3 clinical trials to treat pediatric growth hormone deficiency; Lemzoparlimab, a CD47 monoclonal antibody that has completed Phase 1a clinical trials with RBC-sparing differentiation; and Olamkicept, an IL-6 blocker that has completed Phase 2 clinical trials for the treatment of ulcerative colitis and autoimmune.

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