I-Mab (NASDAQ:IMAB) Trading 3.7% Higher – Time to Buy?

I-Mab (NASDAQ:IMAB) traded up 3.7% during mid-day trading on Tuesday . The stock traded as high as $1.14 and last traded at $1.13. 226,763 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 349,270 shares. The stock had previously closed at $1.09.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and set a $8.00 price objective on shares of I-Mab in a research note on Tuesday, September 17th.

I-Mab Stock Performance

The business has a 50 day moving average of $1.20 and a 200 day moving average of $1.44.

I-Mab (NASDAQ:IMAB) last released its quarterly earnings results on Wednesday, August 28th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.51) by $0.44. Research analysts expect that I-Mab will post -0.38 EPS for the current year.

Institutional Trading of I-Mab

A hedge fund recently bought a new stake in I-Mab stock. Bank of Montreal Can bought a new position in I-Mab (NASDAQ:IMAB) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 244,875 shares of the company’s stock, valued at approximately $453,000. Bank of Montreal Can owned about 0.30% of I-Mab as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 38.38% of the company’s stock.

About I-Mab

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.