Separately, Zacks Investment Research downgraded shares of I-Mab from a hold rating to a sell rating in a research report on Friday, August 14th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. I-Mab currently has an average rating of Hold and an average target price of $41.00.
Shares of I-Mab stock opened at $26.34 on Thursday. The firm has a market cap of $1.01 billion and a PE ratio of -1.16. The firm’s 50-day simple moving average is $25.32 and its 200-day simple moving average is $27.93. I-Mab has a 1 year low of $17.10 and a 1 year high of $40.88.
In other I-Mab news, Director Howard G. Welgus sold 2,200 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $24.38, for a total value of $53,636.00. Following the completion of the transaction, the director now owns 178,378 shares in the company, valued at approximately $4,348,855.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Howard G. Welgus sold 2,800 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $25.63, for a total transaction of $71,764.00. Following the completion of the transaction, the director now owns 162,725 shares of the company’s stock, valued at approximately $4,170,641.75. The disclosure for this sale can be found here.
I-Mab Company Profile
Arcutis Biotherapeutics, Inc, a biopharmaceutical company, focuses on developing and commercializing treatments for dermatological diseases. Its lead product candidate is ARQ-151, a topical cream formulation of roflumilast that is in Phase III clinical trials for the treatment of plaque psoriasis and atopic dermatitis.
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