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

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

Institutional Investors Weigh In On I-Mab

An institutional investor recently bought a new position in I-Mab stock. Bank of Montreal Can purchased a new position in I-Mab (NASDAQ:IMAB) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 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 SEC filing. Institutional investors own 38.38% of the company’s stock.

Analyst Ratings Changes

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

I-Mab Stock Performance

Shares of I-Mab stock opened at $1.33 on Thursday. The business has a 50 day moving average of $1.17 and a 200 day moving average of $1.50. I-Mab has a 52 week low of $0.99 and a 52 week high of $2.54.

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

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.