Shares of I-MAB (NASDAQ: IMAB), a U.S.-based global biotech company, surged 6.19% during intraday trading on Thursday. The significant uptick comes on the heels of positive analyst ratings and the company's announcement of its participation in upcoming investor conferences.

HC Wainwright & Co. reaffirmed their confidence in I-MAB by maintaining their price target at $7.00 per share. Additionally, Needham reiterated their "Buy" rating for the company. These positive assessments from reputable financial firms likely contributed to the increased investor interest and subsequent stock price rally.

Further boosting market sentiment, I-MAB revealed its plans to participate in two major investor conferences in September. The company will attend the Cantor Global Healthcare Conference from September 3-5 and the H.C. Wainwright 27th Annual Global Investment Conference on September 10. These events provide I-MAB with valuable opportunities to showcase its pipeline, particularly its lead candidate givastomig, a potential best-in-class bispecific antibody for gastric cancer treatment. The prospect of increased visibility among investors and potential partnerships could be driving the stock's upward movement.