InnoCare Pharma Limited (OTCMKTS:INCPF) Sees Large Drop in Short Interest

InnoCare Pharma Limited (OTCMKTS:INCPF) was the recipient of a large drop in short interest during the month of June. As of June 15th, there was short interest totaling 445,268 shares, a drop of 63.0% from the May 31st total of 1,202,243 shares. Based on an average daily trading volume, of 0 shares, the short-interest ratio is currently ∞ days.

InnoCare Pharma Stock Performance

Shares of OTCMKTS:INCPF opened at $1.55 on Friday. InnoCare Pharma has a 52 week low of $1.55 and a 52 week high of $2.31. The company has a 50-day moving average price of $1.55 and a 200 day moving average price of $1.75.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley raised shares of InnoCare Pharma to an “overweight” rating in a research note on Thursday, May 28th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has an average 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.