Short Interest in I-Mab (NASDAQ:IMAB) Increases By 13.5%

I-Mab (NASDAQ:IMAB - Get Free Report) was the recipient of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 685,600 shares, a growth of 13.5% from the November 30th total of 604,100 shares. Based on an average daily trading volume, of 469,300 shares, the short-interest ratio is presently 1.5 days.

I-Mab Stock Down 3.4 %

Shares of NASDAQ:IMAB traded down $0.03 during trading on Wednesday, hitting $0.85. 392,844 shares of the company's stock were exchanged, compared to its average volume of 357,170. The firm has a 50-day moving average price of $1.01 and a two-hundred day moving average price of $1.22. I-Mab has a 1-year low of $0.84 and a 1-year high of $2.54.

Analyst Ratings Changes

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

Hedge Funds Weigh In On I-Mab

Hedge funds and other institutional investors have recently bought and sold shares of the business. XTX Topco Ltd raised its position in shares of I-Mab by 140.8% during the 3rd quarter. XTX Topco Ltd now owns 43,039 shares of the company's stock valued at $53,000 after acquiring an additional 25,163 shares during the last quarter. Garden State Investment Advisory Services LLC acquired a new stake in shares of I-Mab during the third quarter worth $179,000. Bank of Montreal Can bought a new stake in I-Mab in the second quarter valued at about $453,000. Finally, Caligan Partners LP lifted its stake in I-Mab by 3.7% in the third quarter. Caligan Partners LP now owns 3,499,330 shares of the company's stock valued at $4,339,000 after buying an additional 124,539 shares during the period. 38.38% of the stock is owned by institutional investors.

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.