I-Mab (NASDAQ:IMAB) Short Interest Up 7.3% in March

I-Mab (NASDAQ:IMAB) was the target of a significant 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 volume of 436,300 shares, the days-to-cover ratio is presently 2.7 days.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on IMAB shares. Piper Sandler dropped their price target on shares of I-Mab from $15.00 to $10.00 and set an “overweight” rating on the stock in a research note on Monday, March 18th. HC Wainwright reiterated a “buy” rating and issued a $8.00 price target (down previously from $18.00) on shares of I-Mab in a research note on Monday, March 18th. Cantor Fitzgerald reissued an “overweight” rating on shares of I-Mab in a report on Friday, January 12th. Finally, Needham & Company LLC restated a “buy” rating and set a $6.00 price objective on shares of I-Mab in a report on Friday, April 12th.

Institutional Trading of I-Mab

Large investors have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in I-Mab during the 3rd quarter worth $31,000. Tower Research Capital LLC TRC boosted its holdings in I-Mab by 267.8% during the third quarter. Tower Research Capital LLC TRC now owns 28,118 shares of the company’s stock worth $37,000 after buying an additional 20,473 shares in the last quarter. XTX Topco Ltd bought a new position in shares of I-Mab in the first quarter valued at $37,000. Mariner LLC acquired a new stake in shares of I-Mab during the fourth quarter worth $52,000. Finally, Donald L. Hagan LLC purchased a new position in I-Mab in the 4th quarter worth about $57,000. Institutional investors and hedge funds own 38.38% of the company’s stock.

I-Mab Stock Down 0.6 %

Shares of NASDAQ:IMAB opened at $1.79 on Wednesday. The firm has a 50-day simple moving average of $1.79 and a 200 day simple moving average of $1.68. I-Mab has a fifty-two week low of $1.16 and a fifty-two week high of $3.76.

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.