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

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

Innovent Biologics Price Performance

IVBXF stock opened at $10.65 on Tuesday. Innovent Biologics has a 1-year low of $9.10 and a 1-year high of $15.01. The business’s 50 day simple moving average is $12.49 and its 200 day simple moving average is $11.23.

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.