I-Mab (NASDAQ:IMAB) Short Interest Update

I-Mab (NASDAQ:IMAB) saw a large increase in short interest in 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 volume of 436,300 shares, the short-interest ratio is presently 2.7 days.

Institutional Investors Weigh In On I-Mab

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in I-Mab by 38.1% in the 1st quarter. BlackRock Inc. now owns 3,403,271 shares of the company’s stock worth $55,270,000 after acquiring an additional 938,531 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in I-Mab by 13,161.9% in the 4th quarter. JPMorgan Chase & Co. now owns 777,545 shares of the company’s stock worth $3,250,000 after acquiring an additional 771,682 shares in the last quarter. Two Sigma Investments LP increased its holdings in I-Mab by 880.5% in the 3rd quarter. Two Sigma Investments LP now owns 473,579 shares of the company’s stock worth $1,899,000 after acquiring an additional 425,279 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in I-Mab by 98.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 726,692 shares of the company’s stock worth $11,801,000 after acquiring an additional 360,273 shares in the last quarter. Finally, GSA Capital Partners LLP increased its holdings in I-Mab by 175.2% in the 4th quarter. GSA Capital Partners LLP now owns 538,119 shares of the company’s stock worth $1,022,000 after acquiring an additional 342,573 shares in the last quarter. Hedge funds and other institutional investors own 38.38% of the company’s stock.

Analyst Upgrades and Downgrades

IMAB has been the topic of a number of analyst reports. HC Wainwright reiterated a “buy” rating and issued a $8.00 price target (down previously from $18.00) on shares of I-Mab in a research note on Monday, March 18th. Piper Sandler lowered their target price on shares of I-Mab from $15.00 to $10.00 and set an “overweight” rating on the stock in a research note on Monday, March 18th. 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. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of I-Mab in a research note on Friday, January 12th.

I-Mab Stock Down 0.6 %

NASDAQ IMAB opened at $1.80 on Tuesday. I-Mab has a 52 week low of $1.16 and a 52 week high of $3.76. The company has a 50-day moving average price of $1.79 and a 200-day moving average price of $1.68.

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.