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

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

I-Mab Stock Performance

IMAB stock remained flat at $1.09 during midday trading on Wednesday. 98,291 shares of the company’s stock traded hands, 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 50-day moving average price of $1.24 and a 200-day moving average price of $1.59.

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of I-Mab

A hedge fund recently bought a new stake in I-Mab stock. Bank of Montreal Can bought a new position in I-Mab (NASDAQ:IMAB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 SEC filing. 38.38% of the stock is currently owned by institutional investors and hedge funds.

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.