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

I-Mab (NASDAQ:IMAB) was the recipient of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totalling 533,100 shares, a decrease of 12.0% from the September 15th total of 605,700 shares. Based on an average trading volume of 289,100 shares, the short-interest ratio is currently 1.8 days.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and issued a $8.00 target price on shares of I-Mab in a research note on Tuesday, September 17th.

I-Mab Stock Down 0.7 %

Shares of NASDAQ:IMAB opened at $1.33 on Thursday. I-Mab has a 1 year low of $0.99 and a 1 year high of $2.54. The stock’s fifty day moving average price is $1.17 and its 200-day moving average price is $1.50.

I-Mab (NASDAQ:IMAB) last announced its quarterly earnings results on Wednesday, August 28th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.44. On average, analysts forecast that I-Mab will post -0.38 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in I-Mab stock. Bank of Montreal Can bought a new stake in I-Mab (NASDAQ:IMAB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 244,875 shares of the company’s stock, valued at approximately $453,000. Bank of Montreal Can owned 0.30% of I-Mab as of its most recent filing with the Securities & Exchange Commission. 38.38% of the stock is currently owned by institutional investors and hedge funds.

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.