Short Interest in InnoCare Pharma Limited (OTCMKTS:INCPF) Declines By 56.6%

InnoCare Pharma Limited (OTCMKTS:INCPF) was the recipient of a large decrease in short interest in May. As of May 29th, there was short interest totaling 1,202,243 shares, a decrease of 56.6% from the May 14th total of 2,773,329 shares. Based on an average daily volume of 0 shares, the days-to-cover ratio is currently ∞ days.

InnoCare Pharma Stock Performance

Shares of INCPF stock opened at $1.55 on Friday. The firm has a fifty day simple moving average of $1.55 and a 200-day simple moving average of $1.79. InnoCare Pharma has a twelve month low of $1.55 and a twelve month high of $2.31.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley upgraded shares of InnoCare Pharma to an “overweight” rating in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy”.

About InnoCare Pharma

InnoCare Pharma Ltd is a China-based, clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel small-molecule targeted therapies for oncology. Headquartered in Shenzhen, Guangdong Province, the company leverages structure-based drug design and comprehensive preclinical screening to advance drug candidates that address high-unmet-need cancers.

The company’s development pipeline comprises multiple small-molecule inhibitors in various stages of preclinical and early clinical evaluation.