I-Mab (NASDAQ:IMAB) Short Interest Update

I-Mab (NASDAQ:IMAB) saw a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 1,170,000 shares, an increase 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 days-to-cover ratio is presently 2.7 days.

Hedge Funds Weigh In On I-Mab

Several hedge funds and other institutional investors have recently made changes to their positions in IMAB. Acadian Asset Management LLC bought a new stake in shares of I-Mab during the 1st quarter valued at approximately $65,000. XTX Topco Ltd bought a new stake in shares of I-Mab during the 1st quarter valued at approximately $37,000. Sei Investments Co. grew its holdings in shares of I-Mab by 141.2% during the 1st quarter. Sei Investments Co. now owns 12,215 shares of the company’s stock valued at $198,000 after purchasing an additional 7,151 shares during the last quarter. Mariner LLC bought a new stake in shares of I-Mab during the 4th quarter valued at approximately $52,000. Finally, Prelude Capital Management LLC grew its holdings in shares of I-Mab by 243.2% during the 3rd quarter. Prelude Capital Management LLC now owns 15,620 shares of the company’s stock valued at $63,000 after purchasing an additional 11,069 shares during the last quarter. 38.38% of the stock is currently owned by institutional investors and hedge funds.

I-Mab Stock Performance

Shares of NASDAQ:IMAB opened at $1.80 on Tuesday. The firm has a 50 day moving average of $1.79 and a 200-day moving average of $1.68. I-Mab has a 12 month low of $1.16 and a 12 month high of $3.76.

Analyst Ratings Changes

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

About I-Mab

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.