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

I-Mab (NASDAQ:IMAB) saw a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 904,000 shares, a growth 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.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and set a $8.00 target price on shares of I-Mab in a research note on Friday, November 15th.

I-Mab Stock Up 1.0 %

NASDAQ:IMAB traded up $0.01 during mid-day trading on Thursday, reaching $1.06. The stock had a trading volume of 431,389 shares, compared to its average volume of 525,526. The stock’s 50 day simple moving average is $1.00 and its two-hundred day simple moving average is $1.13. I-Mab has a 1-year low of $0.84 and a 1-year high of $2.08.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in IMAB. 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 valued at $53,000 after acquiring an additional 25,163 shares during the period. Garden State Investment Advisory Services LLC bought a new stake in shares of I-Mab in the 3rd quarter worth approximately $179,000. Bank of Montreal Can acquired a new position in I-Mab during the 2nd quarter valued at approximately $453,000. Finally, Caligan Partners LP grew its stake in I-Mab by 3.7% during the 3rd quarter. Caligan Partners LP now owns 3,499,330 shares of the company’s stock worth $4,339,000 after buying an additional 124,539 shares during the last quarter. Institutional investors and hedge funds 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.