Innovent Biologics, Inc. (OTCMKTS:IVBXF) Sees Significant Growth in Short Interest

Innovent Biologics, Inc. (OTCMKTS:IVBXF) was the target of a large increase in short interest in February. As of February 27th, there was short interest totaling 1,121,342 shares, an increase of 113.1% from the February 12th total of 526,150 shares. Based on an average daily volume of 2,712 shares, the days-to-cover ratio is presently 413.5 days. Based on an average daily volume of 2,712 shares, the days-to-cover ratio is presently 413.5 days.

Innovent Biologics Trading Up 0.3%

OTCMKTS IVBXF opened at $10.53 on Friday. The firm’s 50 day moving average price is $10.80 and its 200-day moving average price is $11.37. Innovent Biologics has a 52-week low of $5.00 and a 52-week high of $15.12.

Innovent Biologics Company Profile

Innovent Biologics is a China-based biopharmaceutical company focused on the research, development, manufacturing and commercialization of high-quality biologic therapies. Founded in 2011 and headquartered in the Suzhou National Biotech R&D Park, the company specializes in innovative treatments across oncology, metabolic and ophthalmology indications. Innovent’s integrated model encompasses end-to-end capabilities, from early discovery and clinical development to large-scale manufacturing and market launch.

The company has built a diversified product portfolio that includes the anti-PD-1 monoclonal antibody sintilimab (Tyvyt), approved for lymphoma and non-small cell lung cancer in China, as well as multiple biosimilars such as IBI305 (a bevacizumab biosimilar) and IBI306 (an etanercept biosimilar).