I-Mab (NASDAQ:IMAB) Short Interest Update

I-Mab (NASDAQ:IMAB) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 1,170,000 shares, a growth of 7.3% from the March 15th total of 1,090,000 shares. Based on an average daily trading volume, of 436,300 shares, the short-interest ratio is presently 2.7 days.

I-Mab Stock Down 0.6 %

Shares of NASDAQ IMAB opened at $1.80 on Tuesday. The firm’s 50-day moving average price is $1.79 and its 200-day moving average price is $1.68. I-Mab has a 52-week low of $1.16 and a 52-week high of $3.76.

Institutional Trading of I-Mab

A number of institutional investors have recently made changes to their positions in IMAB. Canada Pension Plan Investment Board purchased a new position in shares of I-Mab in the third quarter worth approximately $61,000. Acadian Asset Management LLC purchased a new position in shares of I-Mab in the third quarter worth approximately $168,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of I-Mab in the third quarter worth approximately $31,000. Donald L. Hagan LLC purchased a new position in shares of I-Mab in the fourth quarter worth approximately $57,000. Finally, BNP Paribas Arbitrage SNC purchased a new position in shares of I-Mab in the third quarter worth approximately $131,000. Hedge funds and other institutional investors own 38.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $6.00 price objective on shares of I-Mab in a research note on Friday. Piper Sandler reduced their price objective on shares of I-Mab from $15.00 to $10.00 and set an “overweight” rating for the company in a research note on Monday, March 18th. Cantor Fitzgerald restated an “overweight” rating on shares of I-Mab in a research note on Friday, January 12th. Finally, HC Wainwright restated a “buy” rating and set a $8.00 price objective (down from $18.00) on shares of I-Mab in a research note on Monday, March 18th.

I-Mab Company Profile

I-Mab, a clinical stage biopharmaceutical company, discovers, develops, and commercializes biologics to treat cancer and autoimmune disorders. It is developing Felzartamab, a CD38 antibody that is in Phase 1b/2a for patients with membranous nephropathy; Eftansomatropin alfa, a long-acting growth hormone, which has completed Phase 3 clinical trials to treat pediatric growth hormone deficiency; Efineptakin alfa, a recombinant human IL-7 that is in Phase 2 for cancer treatment-related lymphopenia and cancer immunotherapy; and Lemzoparlimab, a CD47 monoclonal antibody that has completed Phase 2 clinical trial.