Iambic Therapeutics (NASDAQ:IAM) Now Covered by Analysts at Zacks Research

Zacks Research initiated coverage on shares of Iambic Therapeutics (NASDAQ:IAM) in a research note issued to investors on Tuesday morning,Zacks reports. The firm issued a hold rating on the stock.

A number of other equities research analysts also recently commented on IAM. Citigroup assumed coverage on Iambic Therapeutics in a report on Monday. They issued a “buy” rating and a $22.00 price objective for the company. Jefferies Financial Group began coverage on Iambic Therapeutics in a research note on Tuesday. They issued a “buy” rating and a $35.00 target price on the stock. JPMorgan Chase & Co. assumed coverage on Iambic Therapeutics in a report on Monday. They set an “overweight” rating and a $22.00 target price on the stock. Bank of America initiated coverage on Iambic Therapeutics in a research report on Monday. They set a “buy” rating and a $30.00 target price for the company. Finally, Wall Street Zen raised Iambic Therapeutics to a “hold” rating in a research note on Saturday, November 7th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Iambic Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.25.

Iambic Therapeutics Trading Up 4.1%

NASDAQ:IAM opened at $15.39 on Tuesday. Iambic Therapeutics has a 12-month low of $9.60 and a 12-month high of $25.00.

Insiders Place Their Bets

In other 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 cost of $16.00 per share, for a total transaction of $11,500,000.00. Following the completion of the acquisition, the director owned 2,588,248 shares in the company, valued at approximately $41,411,968. This trade represents a 38.45% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 22.90% of the company’s stock.

About Iambic Therapeutics

Iambic Therapeutics is a biotechnology company that uses artificial intelligence and computational methods to discover and develop medicines. Its approach combines machine-learning tools with laboratory research to identify potential drug candidates and guide their design. The company’s pipeline includes IAM1363, an investigational, brain-penetrant HER2 inhibitor being developed for cancers driven by HER2, including cancers that may spread to the brain. Iambic’s broader work focuses on advancing drug candidates generated through its technology platform.