Skip to main content

I-Mab (NASDAQ:IMAB) Short Interest Up 46.3% in March

Saturday, April 17, 2021 | MarketBeat

I-Mab (NASDAQ:IMAB) saw a significant growth in short interest in March. As of March 31st, there was short interest totalling 1,030,000 shares, a growth of 46.3% from the March 15th total of 704,000 shares. Based on an average daily volume of 354,200 shares, the short-interest ratio is presently 2.9 days.

IMAB stock traded down $0.14 during midday trading on Friday, reaching $57.00. The company's stock had a trading volume of 269,650 shares, compared to its average volume of 359,417. The stock has a fifty day simple moving average of $52.35 and a two-hundred day simple moving average of $47.01. I-Mab has a 1 year low of $13.09 and a 1 year high of $65.94. The firm has a market capitalization of $4.10 billion and a price-to-earnings ratio of -1.97.

Several institutional investors have recently made changes to their positions in the company. ETF Managers Group LLC increased its stake in shares of I-Mab by 5.8% during the fourth quarter. ETF Managers Group LLC now owns 34,289 shares of the company's stock valued at $1,454,000 after buying an additional 1,882 shares during the period. BlackRock Inc. purchased a new position in I-Mab in the third quarter valued at about $98,000. DekaBank Deutsche Girozentrale purchased a new position in I-Mab in the fourth quarter valued at about $195,000. JPMorgan Chase & Co. boosted its holdings in I-Mab by 4,023.1% in the third quarter. JPMorgan Chase & Co. now owns 6,061 shares of the company's stock worth $233,000 after acquiring an additional 5,914 shares in the last quarter. Finally, Virtus ETF Advisers LLC acquired a new stake in I-Mab in the fourth quarter worth about $364,000. Hedge funds and other institutional investors own 16.64% of the company's stock.

Several research firms recently weighed in on IMAB. Zacks Investment Research downgraded I-Mab from a "hold" rating to a "sell" rating in a research report on Thursday, April 1st. HC Wainwright reaffirmed a "buy" rating on shares of I-Mab in a report on Tuesday, March 30th. Piper Sandler initiated coverage on I-Mab in a report on Wednesday, March 3rd. They issued an "overweight" rating and a $75.00 target price on the stock. Finally, Needham & Company LLC initiated coverage on I-Mab in a report on Monday, March 22nd. They issued a "buy" rating and a $75.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The stock presently has a consensus rating of "Buy" and a consensus price target of $64.20.

About I-Mab

I-Mab, a clinical stage biopharmaceutical company, engages in the discovery, development, and commercialization of novel or highly differentiated biologics to treat diseases with unmet medical needs, primarily cancers and autoimmune disorders. It is developing Felzartamab (TJ202), a CD38 antibody that is in Phase III clinical trials to treat multiple myeloma and autoimmune diseases; Eftansomatropin (TJ101), a long-acting human growth hormone that has completed Phase II clinical trials to treat pediatric growth hormone deficiency; and Olamkicept (TJ301), a IL-6 blocker, which is in Phase II clinical trials for the treatment of ulcerative colitis and autoimmune diseases.

Recommended Story: How does quantitative easing work?

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Featured Article: Equity Income

7 Electric Vehicle (EV) Stocks That Are Ready to Rebound

The electric vehicle (EV) sector was nearly as frothy as the “pandemic stocks” in 2020. It wasn’t that the EV sector was dormant during the Trump administration.

But, as the saying goes, elections have consequences. And Wall Street understands they can make money in any administration. And as a bet that Joe Biden would win the presidency, electric vehicle stocks soared.

For starters, the Biden administration has already said it will prioritize climate change like no administration ever has. And one way they are going to do that is to incentivize the production and purchase of electric vehicles.

And to take advantage of this shift towards electric vehicle stocks, many private companies raced to get in on the action. The preferred way for many of these companies to go public was via a Special Purpose Acquisition Company (SPAC). A SPAC is basically a shortcut to the traditional IPO process.

However, what goes up frequently goes down and since late February, EV stocks have been getting battered. But this is creating an opportunity because the electric vehicle is still supposed to see exceptional growth over the next five years.

To help you take advantage of this we’ve created this special presentation that includes seven stocks that appear to be ready to take the next leg up.

View the "7 Electric Vehicle (EV) Stocks That Are Ready to Rebound ".

MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research. As a bonus to opt-ing into our email newsletters, you will also get a free subscription to the Liberty Through Wealth e-newsletter. You can opt out at any time.