Short Interest in I-Mab Sponsored ADR (NASDAQ:IMAB) Increases By 38.8%

I-Mab Sponsored ADR (NASDAQ:IMAB) experienced a significant increase in short interest, rising 38.8% to 3,650,000 shares as of October 15th. This represents 5.7% of the company's stock being short sold, with a days-to-cover ratio of 1.4 days based on an average daily trading volume of 2,660,000 shares. The stock traded up 2.5% to $4.76, with a market cap of $388.29 million. Analysts maintain a "Moderate Buy" rating with a consensus target price of $7.67, reflecting positive sentiment towards the company's future performance.

I-Mab Sponsored ADR (NASDAQ:IMAB - Get Free Report) saw a significant growth in short interest in October. As of October 15th, there was short interest totaling 3,650,000 shares, a growth of 38.8% from the September 30th total of 2,630,000 shares. Approximately 5.7% of the company's stock are short sold. Based on an average trading volume of 2,660,000 shares, the short-interest ratio is currently 1.4 days. Based on an average trading volume of 2,660,000 shares, the short-interest ratio is currently 1.4 days. Approximately 5.7% of the company's stock are short sold.

I-Mab Trading Up 2.5%

NASDAQ IMAB traded up $0.12 during trading hours on Monday, reaching $4.76. The company's stock had a trading volume of 1,512,693 shares, compared to its average volume of 2,165,293. The business has a 50-day simple moving average of $4.46 and a 200 day simple moving average of $2.93. I-Mab has a 52 week low of $0.60 and a 52 week high of $6.79. The stock has a market cap of $388.29 million, a PE ratio of -13.21 and a beta of 1.45.

I-Mab (NASDAQ:IMAB - Get Free Report) last released its quarterly earnings results on Wednesday, August 20th. The company reported ($0.07) earnings per share for the quarter, beating analysts' consensus estimates of ($0.10) by $0.03. As a group, equities analysts predict that I-Mab will post -0.56 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Ground Swell Capital LLC acquired a new position in shares of I-Mab during the first quarter valued at approximately $53,000. Stonepine Capital Management LLC acquired a new position in shares of I-Mab during the first quarter valued at approximately $398,000. Geode Capital Management LLC grew its position in I-Mab by 147.6% in the second quarter. Geode Capital Management LLC now owns 54,562 shares of the company's stock worth $132,000 after buying an additional 32,525 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in I-Mab by 6.6% in the second quarter. SG Americas Securities LLC now owns 876,353 shares of the company's stock worth $2,121,000 after buying an additional 54,312 shares during the last quarter. Institutional investors and hedge funds own 38.38% of the company's stock.

Analyst Ratings Changes

IMAB has been the subject of several recent analyst reports. 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, October 24th. Loop Capital set a $8.00 target price on I-Mab in a research note on Thursday, August 28th. Citigroup restated a "buy" rating on shares of I-Mab in a research note on Monday, October 27th. Leerink Partners initiated coverage on shares of I-Mab in a research report on Friday, October 3rd. They set an "outperform" rating and a $9.00 price target on the stock. Finally, HC Wainwright reaffirmed a "buy" rating and set a $7.00 price target on shares of I-Mab in a research report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $7.67.

Check Out Our Latest Analysis on I-Mab

About I-Mab

(Get Free Report)

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.

Should You Invest $1,000 in I-Mab Right Now?

Before you consider I-Mab, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and I-Mab wasn't on the list.

While I-Mab currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here