Innovent Biologics, Inc. (OTCMKTS:IVBXF) Stock Short Interest Drops 93.3%

Innovent Biologics, Inc. (OTCMKTS:IVBXF) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totaling 13,000 shares, a decrease of 93.3% from the September 30th total of 194,477 shares. Based on an average daily volume of 6,323 shares, the days-to-cover ratio is presently 2.1 days.

Innovent Biologics Price Performance

OTCMKTS:IVBXF remained flat at $10.10 on Wednesday. 1,247 shares of the company traded hands, compared to its average volume of 3,696. The company’s 50 day moving average price is $12.44 and its 200 day moving average price is $11.23. Innovent Biologics has a fifty-two week low of $9.10 and a fifty-two week high of $15.01.

Innovent Biologics Company Profile

Innovent Biologics, Inc is a biopharmaceutical company focused on the discovery, development, manufacturing and commercialization of medicines for cancer, autoimmune diseases and metabolic disorders. The company develops biologic therapies, including monoclonal antibodies, antibody-drug conjugates and other advanced treatments, with the goal of providing innovative and more accessible medicines.

Its marketed portfolio includes sintilimab, an immunotherapy developed in collaboration with Eli Lilly and marketed in China under the brand name Tyvyt, as well as biosimilar and biologic products for oncology and immune-related conditions.