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

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

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC restated a “buy” rating and issued a $6.00 target price on shares of I-Mab in a research report on Friday, April 12th.

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 purchased a new stake in I-Mab (NASDAQ:IMAB) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 162,580 shares of the company’s stock, valued at approximately $309,000. abrdn plc owned approximately 0.20% of I-Mab at the end of the most recent reporting period. 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 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.