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

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

Analysts Set New Price Targets

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

I-Mab Stock Performance

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

Institutional Investors Weigh In On I-Mab

An institutional investor recently bought a new position in I-Mab stock. abrdn plc acquired a new position in shares of I-Mab (NASDAQ:IMAB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 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. 38.38% of the stock is owned by hedge funds and other institutional investors.

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.