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

I-Mab (NASDAQ:IMAB) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 716,600 shares, a drop of 15.9% from the August 15th total of 852,300 shares. Based on an average trading volume of 191,400 shares, the days-to-cover ratio is currently 3.7 days.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price objective on shares of I-Mab in a research note on Tuesday.

Institutional Trading of I-Mab

An institutional investor recently bought a new position in I-Mab stock. Bank of Montreal Can purchased a new position in shares of I-Mab (NASDAQ:IMAB) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 filing with the Securities and Exchange Commission (SEC). 38.38% of the stock is owned by institutional investors.

I-Mab Stock Performance

Shares of IMAB stock remained flat at $1.09 during trading hours on Wednesday. 98,291 shares of the stock were exchanged, compared to its average volume of 317,774. I-Mab has a 12 month low of $0.99 and a 12 month high of $2.54. The business has a fifty day moving average price of $1.24 and a two-hundred day moving average price of $1.59.

I-Mab (NASDAQ:IMAB) last issued its earnings results on Wednesday, August 28th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.51) by $0.44. On average, equities research analysts forecast that I-Mab will post -0.38 earnings per share for the current fiscal year.

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.