I-Mab (NASDAQ:IMAB) Short Interest Up 28.6% in April

I-Mab (NASDAQ:IMAB) saw a significant increase in short interest in April. As of April 15th, there was short interest totalling 423,200 shares, an increase of 28.6% from the March 31st total of 329,200 shares. Currently, 0.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 250,700 shares, the short-interest ratio is currently 1.7 days.

Hedge Funds Weigh In On I-Mab

Several hedge funds and other institutional investors have recently modified their holdings of the business. Garden State Investment Advisory Services LLC acquired a new stake in I-Mab in the third quarter valued at about $179,000. HBK Sorce Advisory LLC bought a new position in shares of I-Mab in the first quarter worth about $38,000. Millennium Management LLC boosted its stake in shares of I-Mab by 763.1% in the 4th quarter. Millennium Management LLC now owns 97,749 shares of the company’s stock valued at $83,000 after purchasing an additional 86,424 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in shares of I-Mab during the 4th quarter valued at approximately $93,000. Finally, Cantor Fitzgerald L. P. acquired a new position in I-Mab during the 4th quarter worth approximately $119,000. Institutional investors own 38.38% of the company’s stock.

I-Mab Price Performance

Shares of NASDAQ:IMAB opened at $0.95 on Friday. I-Mab has a 1 year low of $0.60 and a 1 year high of $2.00. The company’s 50 day simple moving average is $0.83 and its 200 day simple moving average is $0.96.

Analysts Set New Price Targets

IMAB has been the topic of a number of analyst reports. Brookline Capital Management raised I-Mab to a “strong-buy” rating in a research report on Thursday, February 27th. HC Wainwright reduced their target price on I-Mab from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, April 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $4.00 price target on shares of I-Mab in a research note on Friday, April 4th.

About I-Mab

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.