I-Mab (NASDAQ:IMAB) Sees Significant Decrease in Short Interest

I-Mab (NASDAQ:IMAB - Get Free Report) saw a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 329,200 shares, a drop of 64.9% from the March 15th total of 938,400 shares. Based on an average trading volume of 327,200 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.5% of the shares of the company are sold short.

I-Mab Stock Up 1.0 %

Shares of NASDAQ IMAB traded up $0.01 during midday trading on Friday, hitting $0.85. The stock had a trading volume of 33,911 shares, compared to its average volume of 312,153. I-Mab has a fifty-two week low of $0.60 and a fifty-two week high of $2.00. The company's 50-day simple moving average is $0.85 and its 200 day simple moving average is $1.00.

Institutional Investors Weigh In On I-Mab

A number of institutional investors have recently made changes to their positions in IMAB. Millennium Management LLC boosted its holdings in I-Mab by 763.1% during the fourth quarter. Millennium Management LLC now owns 97,749 shares of the company's stock worth $83,000 after buying an additional 86,424 shares during the last quarter. Cantor Fitzgerald L. P. acquired a new stake in shares of I-Mab in the 4th quarter valued at approximately $119,000. BNP Paribas Financial Markets bought a new position in I-Mab during the 4th quarter worth approximately $93,000. XTX Topco Ltd grew its holdings in I-Mab by 140.8% during the third quarter. XTX Topco Ltd now owns 43,039 shares of the company's stock valued at $53,000 after purchasing an additional 25,163 shares during the period. Finally, Garden State Investment Advisory Services LLC bought a new stake in I-Mab in the third quarter valued at approximately $179,000. 38.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IMAB has been the subject of a number of recent research reports. HC Wainwright cut their target price on I-Mab from $8.00 to $7.00 and set a "buy" rating for the company in a research note on Friday, April 4th. Brookline Capital Management upgraded shares of I-Mab to a "strong-buy" rating in a research note on Thursday, February 27th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $4.00 target price on shares of I-Mab in a research report on Friday, April 4th.

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.