I-Mab (NASDAQ:IMAB) Short Interest Down 8.2% in August

I-Mab (NASDAQ:IMAB) saw a large decrease in short interest during the month of August. As of August 15th, there was short interest totalling 852,300 shares, a decrease of 8.2% from the July 31st total of 928,300 shares. Based on an average trading volume of 236,900 shares, the days-to-cover ratio is currently 3.6 days.

I-Mab Stock Performance

Shares of IMAB stock traded up $0.01 on Monday, reaching $1.13. The company had a trading volume of 206,000 shares, compared to its average volume of 331,818. The company has a 50-day moving average of $1.37 and a 200-day moving average of $1.64. I-Mab has a 12 month low of $0.99 and a 12 month high of $2.54.

I-Mab (NASDAQ:IMAB) last announced its quarterly earnings results on Wednesday, August 28th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.44. As a group, sell-side analysts expect that I-Mab will post -0.38 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price target on shares of I-Mab in a research note on Thursday.

Hedge Funds Weigh In On I-Mab

A hedge fund recently bought a new stake in I-Mab stock. Bank of Montreal Can acquired a new stake in I-Mab (NASDAQ:IMAB) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 244,875 shares of the company’s stock, valued at approximately $453,000. Bank of Montreal Can owned 0.30% of I-Mab as of its most recent filing with the SEC. Hedge funds and other institutional investors own 38.38% of the company’s stock.

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 1b/2a for patients with membranous nephropathy; Eftansomatropin alfa, a long-acting growth hormone, which has completed Phase 3 clinical trials to treat pediatric growth hormone deficiency; Efineptakin alfa, a recombinant human IL-7 that is in Phase 2 for cancer treatment-related lymphopenia and cancer immunotherapy; and Lemzoparlimab, a CD47 monoclonal antibody that has completed Phase 2 clinical trial.