Chemomab Therapeutics (NASDAQ:CMMB) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Chemomab Therapeutics (NASDAQ:CMMB) from a hold rating to a buy rating in a research note published on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $7.50 price target on the stock.

According to Zacks, “Chemomab Ltd. is a clinical-stage biotech company. It focuses on the discovery and development of innovative therapeutics for fibrosis-related diseases with high unmet need. The company’s product pipeline includes CM-101. Chemomab Ltd., formerly known as Anchiano Therapeutics Ltd., is based in TEL-AVIV, Israel. “

Separately, Aegis initiated coverage on Chemomab Therapeutics in a report on Tuesday, December 7th. They issued a buy rating and a $30.00 price target for the company.

Shares of NASDAQ CMMB opened at $6.58 on Tuesday. The stock has a market cap of $75.02 million, a PE ratio of -1.39 and a beta of 0.81. The business has a fifty day moving average of $7.98 and a two-hundred day moving average of $11.80. Chemomab Therapeutics has a 52-week low of $6.30 and a 52-week high of $168.80.

Chemomab Therapeutics (NASDAQ:CMMB) last released its quarterly earnings results on Thursday, November 11th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.24). Equities analysts forecast that Chemomab Therapeutics will post -0.03 EPS for the current year.

A number of hedge funds have recently made changes to their positions in CMMB. Marshall Wace LLP acquired a new stake in Chemomab Therapeutics in the second quarter worth about $1,208,000. Meitav Dash Investments Ltd. increased its position in Chemomab Therapeutics by 389.3% in the second quarter. Meitav Dash Investments Ltd. now owns 40,664 shares of the company’s stock worth $773,000 after purchasing an additional 32,353 shares during the period. Ikarian Capital LLC acquired a new stake in Chemomab Therapeutics in the second quarter worth about $5,526,000. Marshall Wace North America L.P. acquired a new stake in Chemomab Therapeutics in the second quarter worth about $837,000. Finally, Virtu Financial LLC acquired a new stake in Chemomab Therapeutics in the second quarter worth about $251,000. Hedge funds and other institutional investors own 28.43% of the company’s stock.

Chemomab Therapeutics Company Profile

Chemomab Therapeutics Ltd. engages in the research and development of biological drugs for the treatment of inflammatory and fibrotic diseases. The company was formerly known as Anchiano Therapeutics Ltd. and changed its name to Chemomab Therapeutics Ltd. in March 16, 2021. Chemomab Therapeutics Ltd.

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