I-Mab (NASDAQ:IMAB) Short Interest Up 31.9% in December

I-Mab (NASDAQ:IMAB) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 904,000 shares, a growth of 31.9% from the December 15th total of 685,600 shares. Based on an average trading volume of 477,100 shares, the short-interest ratio is currently 1.9 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IMAB. XTX Topco Ltd boosted its holdings in shares of I-Mab by 140.8% during the 3rd 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 last quarter. Garden State Investment Advisory Services LLC purchased a new stake in I-Mab in the 3rd quarter worth approximately $179,000. Caligan Partners LP increased its stake in I-Mab by 3.7% in 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 in the last quarter. Finally, Bank of Montreal Can purchased a new stake in shares of I-Mab during the second quarter worth about $453,000. Institutional investors own 38.38% of the company’s stock.

I-Mab Price Performance

Shares of I-Mab stock opened at $1.07 on Friday. The business has a fifty day simple moving average of $0.99 and a two-hundred day simple moving average of $1.17. I-Mab has a 12 month low of $0.84 and a 12 month high of $2.08.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and issued a $8.00 target price on shares of I-Mab in a report on Friday, November 15th.

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.