Innovent Biologics, Inc. (OTCMKTS:IVBXF) Sees Large Decrease in Short Interest

Innovent Biologics, Inc. (OTCMKTS:IVBXF) was the recipient of a large 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 volume of 5,100 shares, the days-to-cover ratio is presently 995.6 days.

Innovent Biologics Stock Performance

Innovent Biologics stock traded up $0.10 during mid-day trading on Tuesday, hitting $5.00. The company’s stock had a trading volume of 100 shares, compared to its average volume of 4,776. The company has a 50 day moving average of $3.85 and a 200-day moving average of $4.40. Innovent Biologics has a one year low of $2.71 and a one year high of $6.00.

Analyst Upgrades and Downgrades

Separately, Citigroup started coverage on Innovent Biologics in a research report on Wednesday, August 2nd. They issued a “buy” rating on the stock.

About Innovent Biologics

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.