Piper Sandler Lowers I-Mab (NASDAQ:IMAB) Price Target to $35.00

I-Mab (NASDAQ:IMABGet Rating) had its price objective reduced by Piper Sandler from $80.00 to $35.00 in a research note published on Friday, The Fly reports.

Several other brokerages also recently commented on IMAB. Zacks Investment Research upgraded shares of I-Mab from a sell rating to a hold rating in a report on Wednesday. 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 report on Wednesday, March 30th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Buy and an average price target of $78.00.

IMAB stock opened at $8.27 on Friday. I-Mab has a 1 year low of $8.12 and a 1 year high of $85.40. The company has a fifty day simple moving average of $13.95 and a 200 day simple moving average of $29.92.

Several large investors have recently bought and sold shares of IMAB. Morgan Stanley increased its holdings in shares of I-Mab by 203.7% during the 3rd quarter. Morgan Stanley now owns 1,433,812 shares of the company’s stock worth $103,937,000 after purchasing an additional 961,765 shares during the period. BlackRock Inc. increased its holdings in shares of I-Mab by 38.1% during the 1st quarter. BlackRock Inc. now owns 3,403,271 shares of the company’s stock worth $55,270,000 after purchasing an additional 938,531 shares during the period. IvyRock Asset Management HK Ltd bought a new position in shares of I-Mab during the 1st quarter worth about $9,961,000. Assenagon Asset Management S.A. increased its holdings in shares of I-Mab by 118.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 747,127 shares of the company’s stock worth $12,133,000 after purchasing an additional 405,497 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in I-Mab by 114.1% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 678,600 shares of the company’s stock valued at $11,020,000 after acquiring an additional 361,700 shares during the period. Institutional investors own 96.17% of the company’s stock.

About I-Mab (Get Rating)

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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