I-Mab (NASDAQ:IMAB) Posts Earnings Results

I-Mab (NASDAQ:IMAB) issued its quarterly earnings results on Wednesday. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.44, reports.

I-Mab Stock Up 0.9 %

Shares of IMAB opened at $1.13 on Friday. The stock has a fifty day simple moving average of $1.37 and a two-hundred day simple moving average of $1.64. I-Mab has a 52-week low of $0.99 and a 52-week high of $2.54.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and issued a $8.00 price target on shares of I-Mab in a research note on Thursday.

Institutional Investors Weigh In On I-Mab

A hedge fund recently bought a new stake in I-Mab stock. abrdn plc bought a new position in shares of I-Mab (NASDAQ:IMAB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 162,580 shares of the company’s stock, valued at approximately $309,000. abrdn plc owned about 0.20% of I-Mab as of its most recent SEC filing. 38.38% of the stock is currently owned by institutional investors and hedge funds.

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.