I-Mab (NASDAQ:IMAB) Stock Price Up 0.6% – Time to Buy?

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

Wall Street Analysts Forecast Growth

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

I-Mab Stock Performance

The stock has a 50 day moving average price of $0.94 and a 200 day moving average price of $1.04.

Institutional Investors Weigh In On I-Mab

A number of institutional investors have recently added to or reduced their stakes in the business. Garden State Investment Advisory Services LLC acquired a new position in shares of I-Mab during the third quarter worth $179,000. Cantor Fitzgerald L. P. bought a new position in I-Mab during the 4th quarter worth $119,000. Caligan Partners LP raised its position in I-Mab by 3.7% during the 3rd quarter. Caligan Partners LP now owns 3,499,330 shares of the company’s stock worth $4,339,000 after purchasing an additional 124,539 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in I-Mab during the 4th quarter worth about $93,000. Finally, Millennium Management LLC grew its position in shares of I-Mab by 763.1% in the 4th quarter. Millennium Management LLC now owns 97,749 shares of the company’s stock valued at $83,000 after buying an additional 86,424 shares during the last quarter. 38.38% of the stock is owned by institutional investors.

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.