Innovent Biologics, Inc. (OTCMKTS:IVBXF – Get Free Report) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 5,077,800 shares, a decline of 9.5% from the August 15th total of 5,608,800 shares. Based on an average daily trading volume, of 5,100 shares, the days-to-cover ratio is currently 995.6 days.
Innovent Biologics Stock Performance
IVBXF traded up $0.10 during trading hours on Monday, hitting $5.00. 100 shares of the stock were exchanged, compared to its average volume of 4,776. Innovent Biologics has a 12 month low of $2.71 and a 12 month high of $6.00. The stock has a 50-day simple moving average of $3.85 and a 200-day simple moving average of $4.40.
Wall Street Analysts Forecast Growth
Separately, Citigroup initiated coverage on Innovent Biologics in a research report on Wednesday, August 2nd. They issued a “buy” rating for the company.
Innovent Biologics Company Profile
Innovent Biologics, Inc, a biopharmaceutical company, develops and commercializes monoclonal antibodies and other drug assets in the fields of oncology, ophthalmology, autoimmune, and cardiovascular and metabolic diseases in the People's Republic of China. It offers Tyvyt, a human anti-PD-1 monoclonal antibody; BYVASDA, a fully-human anti-VEGF monoclonal antibody; HALPRYZA, a recombinant chimeric murine/human anti-CD20 monoclonal antibody; SULINNO, a fully-human antiTNF-a monoclonal antibody; Pemazyre, a selective FGFR inhibitor; Olverembatinib, a novel BCR-ABL TK; Cyramza, a VEGF receptor 2 antagonist; and Retsevmo, a selective and potent RET kinase inhibitor.
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