I-Mab (NASDAQ:IMAB) Sees Large Increase in Short Interest

I-Mab (NASDAQ:IMAB - Get Free Report) saw a large 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 trading volume, of 436,300 shares, the short-interest ratio is currently 2.7 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in I-Mab by 4.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,726 shares of the company's stock worth $548,000 after acquiring an additional 1,370 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in I-Mab by 0.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 479,503 shares of the company's stock worth $7,787,000 after acquiring an additional 1,500 shares during the last quarter. Aviva PLC lifted its position in I-Mab by 18.4% during the 1st quarter. Aviva PLC now owns 17,400 shares of the company's stock worth $283,000 after acquiring an additional 2,700 shares during the last quarter. Northern Trust Corp lifted its position in I-Mab by 3.7% during the 1st quarter. Northern Trust Corp now owns 87,467 shares of the company's stock worth $1,420,000 after acquiring an additional 3,113 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in I-Mab during the 1st quarter worth $65,000. Institutional investors and hedge funds own 38.38% of the company's stock.

I-Mab Stock Down 0.6 %

Shares of IMAB stock traded down $0.01 on Tuesday, hitting $1.79. The company's stock had a trading volume of 235,410 shares, compared to its average volume of 479,754. I-Mab has a fifty-two week low of $1.16 and a fifty-two week high of $3.76. The firm's fifty day moving average price is $1.79 and its 200-day moving average price is $1.68.

Analyst Ratings Changes

A number of brokerages have issued reports on IMAB. Piper Sandler decreased their target price 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. HC Wainwright reaffirmed 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. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of I-Mab in a research note on Friday, January 12th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $6.00 price objective on shares of I-Mab in a research note on Friday.

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.