I-Mab (NASDAQ:IMAB) Short Interest Down 12.0% in September

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

Institutional Trading of I-Mab

An institutional investor recently bought a new position in I-Mab stock. Bank of Montreal Can bought a new stake in shares of I-Mab (NASDAQ:IMAB) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 244,875 shares of the company’s stock, valued at approximately $453,000. Bank of Montreal Can owned about 0.30% of I-Mab as of its most recent filing with the SEC. 38.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

I-Mab Stock Performance

Shares of IMAB stock traded down $0.01 during trading on Wednesday, hitting $1.34. 280,754 shares of the company were exchanged, compared to its average volume of 335,030. The business’s 50-day simple moving average is $1.17 and its 200 day simple moving average is $1.50. I-Mab has a twelve month low of $0.99 and a twelve month high of $2.54.

I-Mab (NASDAQ:IMAB) last announced its quarterly earnings results on Wednesday, August 28th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.44. Research analysts anticipate that I-Mab will post -0.38 earnings per share 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.