Short Interest in I-Mab (NASDAQ:IMAB) Expands By 31.9%

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

Hedge Funds Weigh In On I-Mab

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caligan Partners LP lifted its position in I-Mab by 3.7% in the 3rd quarter. Caligan Partners LP now owns 3,499,330 shares of the company's stock valued at $4,339,000 after acquiring an additional 124,539 shares in the last quarter. Garden State Investment Advisory Services LLC bought a new position in shares of I-Mab during the 3rd quarter valued at $179,000. XTX Topco Ltd lifted its holdings 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 buying an additional 25,163 shares during the period. Finally, Bank of Montreal Can bought a new position in shares of I-Mab during the 2nd quarter valued at $453,000. 38.38% of the stock is owned by institutional investors.

I-Mab Stock Performance

IMAB stock traded down $0.07 during midday trading on Monday, hitting $0.95. The company's stock had a trading volume of 260,609 shares, compared to its average volume of 499,921. I-Mab has a 12 month low of $0.84 and a 12 month high of $2.08. The firm's 50-day moving average is $1.00 and its 200-day moving average is $1.12.

Analyst Upgrades and Downgrades

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

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.