Shares of Iambic Therapeutics, Inc. (NASDAQ:IAM – Get Free Report) gapped up prior to trading on Tuesday. The stock had previously closed at $13.38, but opened at $14.47. Iambic Therapeutics shares last traded at $13.54, with a volume of 200,498 shares.
Analyst Ratings Changes
Several research firms have recently commented on IAM. Wall Street Zen upgraded Iambic Therapeutics to a “hold” rating in a research note on Saturday. Jefferies Financial Group initiated coverage on shares of Iambic Therapeutics in a research note on Tuesday. They issued a “buy” rating and a $35.00 price target on the stock. Citigroup began coverage on Iambic Therapeutics in a research report on Monday. They set a “buy” rating and a $22.00 target price for the company. Bank of America started coverage on Iambic Therapeutics in a research report on Monday. They issued a “buy” rating and a $30.00 price target for the company. Finally, JPMorgan Chase & Co. assumed coverage on shares of Iambic Therapeutics in a report on Monday. They issued an “overweight” rating and a $22.00 target price for the company. Four analysts have rated the stock with a Buy rating. Based on data from MarketBeat, Iambic Therapeutics has an average rating of “Buy” and a consensus price target of $27.25.
View Our Latest Stock Analysis on IAM
Iambic Therapeutics Trading Up 8.4%
Insider Transactions at Iambic Therapeutics
In related news, Director Evan Lockwood Rachlin bought 718,750 shares of the business’s stock in a transaction on Friday, October 16th. The shares were bought at an average price of $16.00 per share, for a total transaction of $11,500,000.00. Following the completion of the purchase, the director directly owned 2,588,248 shares of the company’s stock, valued at approximately $41,411,968. This trade represents a 38.45% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.90% of the stock is owned by company insiders.
About Iambic Therapeutics
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