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

I-Mab (NASDAQ:IMAB) saw a large growth in short interest in February. As of February 15th, there was short interest totalling 936,000 shares, a growth of 20.0% from the January 31st total of 780,100 shares. Based on an average daily trading volume, of 400,700 shares, the days-to-cover ratio is currently 2.3 days.

Institutional Trading of I-Mab

A number of large investors have recently added to or reduced their stakes in the business. Caligan Partners LP lifted its position 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 acquiring an additional 124,539 shares during the last quarter. Garden State Investment Advisory Services LLC acquired a new position in shares of I-Mab in the 3rd quarter worth $179,000. XTX Topco Ltd raised its position in shares of I-Mab by 140.8% during the third quarter. XTX Topco Ltd now owns 43,039 shares of the company’s stock worth $53,000 after purchasing an additional 25,163 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of I-Mab during the fourth quarter valued at $93,000. Finally, Cantor Fitzgerald L. P. acquired a new position in shares of I-Mab in the 4th quarter valued at $119,000. 38.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IMAB has been the topic of a number of research analyst reports. Brookline Capital Management upgraded shares of I-Mab to a “strong-buy” rating in a research note on Thursday, February 27th. HC Wainwright reiterated a “buy” rating and set a $8.00 price target on shares of I-Mab in a research report on Friday, November 15th.

I-Mab Stock Down 1.1 %

Shares of IMAB opened at $0.86 on Friday. The firm’s 50 day moving average is $0.98 and its 200-day moving average is $1.07. I-Mab has a 12-month low of $0.76 and a 12-month high of $2.00.

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.