I-Mab (NASDAQ:IMAB) Reaches New 12-Month Low at $36.92

I-Mab (NASDAQ:IMAB) reached a new 52-week low during trading on Thursday . The stock traded as low as $36.92 and last traded at $37.43, with a volume of 8233 shares traded. The stock had previously closed at $40.50.

IMAB has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of I-Mab from a “buy” rating to a “hold” rating in a research note on Wednesday. Siebert Williams Shank initiated coverage on shares of I-Mab in a research note on Thursday, December 9th. They set a “buy” rating and a $96.00 price objective for the company. Finally, Needham & Company LLC lifted their price objective on shares of I-Mab from $83.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, November 1st. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $85.85.

The stock’s 50 day moving average price is $52.46 and its 200-day moving average price is $64.58.

A number of large investors have recently added to or reduced their stakes in IMAB. American Century Companies Inc. purchased a new stake in I-Mab in the second quarter worth about $213,000. Swiss National Bank purchased a new stake in I-Mab in the second quarter worth about $6,166,000. Sei Investments Co. purchased a new stake in I-Mab in the second quarter worth about $527,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in I-Mab in the second quarter worth about $1,133,000. Finally, Aviva PLC bought a new position in I-Mab in the second quarter worth about $806,000. 45.89% of the stock is owned by institutional investors.

I-Mab Company Profile (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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