I-Mab (NASDAQ:IMAB) Trading Up 0.6% – Here’s Why

I-Mab (NASDAQ:IMAB) traded up 0.6% on Thursday . The company traded as high as $0.86 and last traded at $0.84. 61,390 shares traded hands during trading, a decline of 80% from the average session volume of 306,874 shares. The stock had previously closed at $0.84.

Analysts Set New Price Targets

Separately, Brookline Capital Management raised shares of I-Mab to a “strong-buy” rating in a research report on Thursday, February 27th.

I-Mab Stock Performance

The stock’s fifty day simple moving average is $0.94 and its 200-day simple moving average is $1.04.

Hedge Funds Weigh In On I-Mab

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Caligan Partners LP increased its stake in I-Mab by 3.7% in the third quarter. Caligan Partners LP now owns 3,499,330 shares of the company’s stock valued at $4,339,000 after purchasing an additional 124,539 shares during the last quarter. Garden State Investment Advisory Services LLC acquired a new position in I-Mab in the third quarter valued at $179,000. XTX Topco Ltd grew its holdings in shares of I-Mab by 140.8% during the third quarter. XTX Topco Ltd now owns 43,039 shares of the company’s stock worth $53,000 after purchasing an additional 25,163 shares during the last quarter. Millennium Management LLC increased its position in shares of I-Mab by 763.1% during the fourth quarter. Millennium Management LLC now owns 97,749 shares of the company’s stock worth $83,000 after purchasing an additional 86,424 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in shares of I-Mab in the 4th quarter valued at about $93,000. 38.38% of the stock is owned by institutional investors and hedge funds.

I-Mab Company Profile

I-Mab, a clinical stage biopharmaceutical company, discovers, develops, and commercializes biologics in the fields of immuno-oncology and immuno-inflammation diseases primarily in the United States. It is developing Uliledlimab, a CD73 neutralizing antibody, which is in Phase 2 clinical trial for the treatment of solid tumors; Givastomig, a bi-specific antibody that is in Phase 1 clinical trial for the treatment of gastric and other cancers; and Ragistomig, a programmed cell death ligand-based tumor-dependent T cell engager, which is in Phase 1 clinical trial for the treatment of for solid tumors.