I-Mab (NASDAQ:IMAB) Sees Large Increase in Short Interest

I-Mab (NASDAQ:IMAB) saw a significant increase in short interest in December. As of December 31st, there was short interest totalling 904,000 shares, an increase of 31.9% from the December 15th total of 685,600 shares. Based on an average daily volume of 477,100 shares, the days-to-cover ratio is presently 1.9 days.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and set a $8.00 price target on shares of I-Mab in a research note on Friday, November 15th.

I-Mab Price Performance

NASDAQ IMAB opened at $1.07 on Friday. I-Mab has a fifty-two week low of $0.84 and a fifty-two week high of $2.08. The business has a fifty day moving average of $0.99 and a 200-day moving average of $1.17.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Caligan Partners LP raised its holdings in I-Mab by 3.7% in the 3rd quarter. Caligan Partners LP now owns 3,499,330 shares of the company’s stock valued at $4,339,000 after acquiring an additional 124,539 shares during the last quarter. Garden State Investment Advisory Services LLC purchased a new position in shares of I-Mab during the 3rd quarter worth about $179,000. XTX Topco Ltd increased its position in I-Mab by 140.8% during the third quarter. XTX Topco Ltd now owns 43,039 shares of the company’s stock worth $53,000 after purchasing an additional 25,163 shares during the last quarter. Finally, Bank of Montreal Can acquired a new position in shares of I-Mab in the 2nd quarter valued at $453,000. Institutional investors and hedge funds own 38.38% of the company’s stock.

I-Mab Company Profile

I-Mab, a clinical stage biopharmaceutical company, discovers, develops, and commercializes biologics in the fields of immuno-oncology and immuno-inflammation diseases primarily in the United States. It is developing Uliledlimab, a CD73 neutralizing antibody, which is in Phase 2 clinical trial for the treatment of solid tumors; Givastomig, a bi-specific antibody that is in Phase 1 clinical trial for the treatment of gastric and other cancers; and Ragistomig, a programmed cell death ligand-based tumor-dependent T cell engager, which is in Phase 1 clinical trial for the treatment of for solid tumors.