149,000 Shares in I-Mab (NASDAQ:IMAB) Purchased by Jericho Capital Asset Management L.P.

Jericho Capital Asset Management L.P. purchased a new stake in shares of I-Mab (NASDAQ:IMAB) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 149,000 shares of the company’s stock, valued at approximately $7,222,000.

A number of other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in shares of I-Mab by 6,951.6% in the 4th quarter. BlackRock Inc. now owns 146,955 shares of the company’s stock valued at $6,929,000 after purchasing an additional 144,871 shares during the last quarter. ETF Managers Group LLC increased its holdings in I-Mab by 5.8% during the 4th quarter. ETF Managers Group LLC now owns 34,289 shares of the company’s stock worth $1,454,000 after purchasing an additional 1,882 shares during the period. Morgan Stanley increased its holdings in shares of I-Mab by 17.0% in the 4th quarter. Morgan Stanley now owns 189,236 shares of the company’s stock valued at $8,923,000 after acquiring an additional 27,483 shares during the period. Jane Street Group LLC purchased a new position in shares of I-Mab in the 4th quarter valued at $407,000. Finally, Alyeska Investment Group L.P. purchased a new position in shares of I-Mab in the 4th quarter valued at $7,144,000. 32.16% of the stock is owned by institutional investors.

Shares of I-Mab stock traded up $0.97 on Thursday, hitting $78.96. The company’s stock had a trading volume of 2,769 shares, compared to its average volume of 439,236. I-Mab has a 1 year low of $27.50 and a 1 year high of $85.40. The firm’s fifty day moving average is $75.02.

Several research analysts recently weighed in on IMAB shares. Zacks Investment Research downgraded I-Mab from a “hold” rating to a “sell” rating in a research note on Thursday, June 10th. China Renaissance Securities lifted their price target on I-Mab from $78.91 to $102.98 and gave the stock a “buy” rating in a research report on Thursday, July 8th. Cantor Fitzgerald lifted their price target on I-Mab from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 13th. HC Wainwright reaffirmed a “buy” rating on shares of I-Mab in a research report on Tuesday, March 30th. Finally, Daiwa Capital Markets began coverage on I-Mab in a report on Wednesday, June 2nd. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. I-Mab has a consensus rating of “Buy” and a consensus price target of $77.33.

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 III clinical trials to treat multiple myeloma and autoimmune diseases; Eftansomatropin alfa, a long-acting human growth hormone, which has completed Phase 3 clinical trials to treat pediatric growth hormone deficiency; Lemzoparlimab, a CD47 monoclonal antibody that has completed Phase 1a clinical trials with RBC-sparing differentiation; and Olamkicept, an IL-6 blocker that has completed Phase 2 clinical trials for the treatment of ulcerative colitis and autoimmune.

Further Reading: S&P/ASX 200 Index

Want to see what other hedge funds are holding IMAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for I-Mab (NASDAQ:IMAB).

Institutional Ownership by Quarter for I-Mab (NASDAQ:IMAB)

Receive News & Ratings for I-Mab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for I-Mab and related companies with MarketBeat.com's FREE daily email newsletter.