I-Mab (NASDAQ:IMAB) Stock Price Down 3.8%

I-Mab (NASDAQ:IMAB - Get Free Report) shares dropped 3.8% during mid-day trading on Friday . The stock traded as low as $1.23 and last traded at $1.26. Approximately 150,879 shares changed hands during trading, a decline of 56% from the average daily volume of 345,044 shares. The stock had previously closed at $1.31.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reissued a "buy" rating and set a $6.00 target price on shares of I-Mab in a research note on Friday, April 12th.

Read Our Latest Analysis on I-Mab

I-Mab Stock Down 3.8 %

The stock has a 50 day simple moving average of $1.63 and a 200-day simple moving average of $1.73.

Hedge Funds Weigh In On I-Mab

A hedge fund recently bought a new stake in I-Mab stock. abrdn plc bought a new position in I-Mab (NASDAQ:IMAB - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 162,580 shares of the company's stock, valued at approximately $309,000. abrdn plc owned 0.20% of I-Mab as of its most recent filing with the SEC. 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.

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