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

Innovent Biologics, Inc. (OTCMKTS:IVBXF) saw a significant drop in short interest during the month of January. As of January 30th, there was short interest totaling 279,298 shares, a drop of 25.0% from the January 15th total of 372,384 shares. Based on an average daily volume of 2,114 shares, the days-to-cover ratio is currently 132.1 days. Based on an average daily volume of 2,114 shares, the days-to-cover ratio is currently 132.1 days.

Innovent Biologics Stock Performance

IVBXF traded up $0.14 on Monday, hitting $11.44. The company had a trading volume of 982 shares, compared to its average volume of 2,104. Innovent Biologics has a 52-week low of $4.64 and a 52-week high of $15.12. The stock has a fifty day simple moving average of $10.67 and a 200-day simple moving average of $11.57.

About Innovent Biologics

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).