I-Mab (NASDAQ:IMAB) Shares Down 0.3% - Here's Why

I-Mab (NASDAQ:IMAB - Get Free Report)'s share price traded down 0.3% on Thursday . The stock traded as low as $0.96 and last traded at $0.97. 89,859 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 393,626 shares. The stock had previously closed at $0.97.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a "buy" rating and issued a $8.00 price objective on shares of I-Mab in a research report on Friday, November 15th.

I-Mab Price Performance

The company's 50-day moving average is $0.99 and its two-hundred day moving average is $1.08.

Institutional Trading of I-Mab

Institutional investors and hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd boosted its stake 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. Millennium Management LLC lifted its holdings in shares of I-Mab by 763.1% in the 4th quarter. Millennium Management LLC now owns 97,749 shares of the company's stock worth $83,000 after acquiring an additional 86,424 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of I-Mab in the 4th quarter valued at $93,000. Caligan Partners LP grew its holdings in shares of I-Mab by 3.7% during the 3rd quarter. Caligan Partners LP now owns 3,499,330 shares of the company's stock valued at $4,339,000 after purchasing an additional 124,539 shares during the last quarter. Finally, Cantor Fitzgerald L. P. purchased a new position in I-Mab in the 4th quarter worth $119,000. 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 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.

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