I-Mab (NASDAQ:IMAB) Stock Price Down 0.3% – Time to Sell?

I-Mab (NASDAQ:IMAB)’s stock price traded down 0.3% during mid-day trading on Thursday . The stock traded as low as $0.96 and last traded at $0.97. 89,859 shares changed hands during trading, a decline of 77% from the average session volume of 393,626 shares. The stock had previously closed at $0.97.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating and set a $8.00 target price on shares of I-Mab in a research report on Friday, November 15th.

I-Mab Stock Performance

The firm has a 50-day moving average of $0.99 and a 200-day moving average of $1.08.

Hedge Funds Weigh In On I-Mab

Institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd grew its holdings in I-Mab by 140.8% during the 3rd quarter. XTX Topco Ltd now owns 43,039 shares of the company’s stock valued at $53,000 after buying an additional 25,163 shares in the last quarter. Millennium Management LLC grew its holdings in I-Mab by 763.1% during the 4th quarter. Millennium Management LLC now owns 97,749 shares of the company’s stock valued at $83,000 after buying an additional 86,424 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in I-Mab during the 4th quarter valued at approximately $93,000. Cantor Fitzgerald L. P. purchased a new position in I-Mab during the 4th quarter valued at approximately $119,000. Finally, Garden State Investment Advisory Services LLC purchased a new position in I-Mab during the 3rd quarter valued at approximately $179,000. Hedge funds and other institutional investors own 38.38% of the company’s stock.

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.