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

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On I-Mab

Several hedge funds have recently modified their holdings of the company. Caligan Partners LP grew its stake in shares of I-Mab by 3.7% in the 3rd quarter. Caligan Partners LP now owns 3,499,330 shares of the company's stock worth $4,339,000 after purchasing an additional 124,539 shares during the last quarter. Garden State Investment Advisory Services LLC bought a new stake in I-Mab during the third quarter worth approximately $179,000. XTX Topco Ltd grew 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 during the last quarter. Finally, Bank of Montreal Can bought a new position in shares of I-Mab in the second quarter valued at $453,000. 38.38% of the stock is currently owned by institutional investors and hedge funds.

I-Mab Price Performance

Shares of NASDAQ IMAB traded down $0.03 during mid-day trading on Friday, reaching $1.07. 366,756 shares of the company traded hands, compared to its average volume of 637,125. I-Mab has a fifty-two week low of $0.84 and a fifty-two week high of $2.08. The stock has a fifty day simple moving average of $0.99 and a 200-day simple moving average of $1.16.

About I-Mab

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.