I-Mab (NASDAQ:IMAB) Stock Price Down 0.3% – What’s Next?

Shares of I-Mab (NASDAQ:IMAB) were down 0.3% on Thursday . The company traded as low as $0.96 and last traded at $0.97. Approximately 89,859 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 393,626 shares. The stock had previously closed at $0.97.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and issued a $8.00 target price on shares of I-Mab in a report on Friday, November 15th.

I-Mab Price Performance

The business has a fifty day simple moving average of $0.99 and a two-hundred day simple moving average of $1.08.

Institutional Trading of I-Mab

A number of hedge funds and other institutional investors have recently bought and sold shares of IMAB. Caligan Partners LP increased its position in I-Mab by 3.7% in the third quarter. Caligan Partners LP now owns 3,499,330 shares of the company’s stock worth $4,339,000 after buying an additional 124,539 shares in the last quarter. Garden State Investment Advisory Services LLC purchased a new stake in I-Mab in the third quarter worth about $179,000. XTX Topco Ltd increased its position in I-Mab by 140.8% in the third quarter. XTX Topco Ltd now owns 43,039 shares of the company’s stock worth $53,000 after buying an additional 25,163 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in I-Mab in the fourth quarter worth about $93,000. Finally, Cantor Fitzgerald L. P. purchased a new stake in I-Mab in the fourth quarter worth about $119,000. Hedge funds and other institutional investors 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.