Short Interest in LianBio (NASDAQ:LIAN) Expands By 52.8%

LianBio (NASDAQ:LIANGet Rating) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totalling 1,620,000 shares, an increase of 52.8% from the March 15th total of 1,060,000 shares. Approximately 1.6% of the shares of the stock are short sold. Based on an average trading volume of 423,100 shares, the days-to-cover ratio is presently 3.8 days.

Separately, Zacks Investment Research cut LianBio from a “hold” rating to a “sell” rating in a report on Tuesday, April 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, LianBio presently has an average rating of “Hold” and an average price target of $23.19.

A number of hedge funds have recently bought and sold shares of the business. Cubist Systematic Strategies LLC acquired a new stake in LianBio during the fourth quarter worth $68,000. CNA Financial Corp purchased a new position in shares of LianBio during the fourth quarter worth $99,000. Point72 Hong Kong Ltd purchased a new position in shares of LianBio during the fourth quarter worth $123,000. MYDA Advisors LLC purchased a new position in shares of LianBio during the fourth quarter worth $123,000. Finally, Element Capital Management LLC purchased a new position in shares of LianBio during the fourth quarter worth $124,000. 62.99% of the stock is owned by institutional investors.

LIAN stock traded up $0.24 during midday trading on Friday, hitting $6.01. 350,028 shares of the company’s stock were exchanged, compared to its average volume of 830,405. The company’s 50-day simple moving average is $4.10. LianBio has a 1-year low of $2.61 and a 1-year high of $16.37.

LianBio (NASDAQ:LIANGet Rating) last posted its earnings results on Wednesday, March 30th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $0.44. As a group, analysts predict that LianBio will post -1.32 EPS for the current fiscal year.

About LianBio (Get Rating)

Lianbio, a biopharmaceutical company, engages in developing and commercializing medicines for cardiovascular, oncology, respiratory, opthalmology, and inflammatory diseases in China and other Asian countries. The company develops mavacamten for the treatment of obstructive and non-obstructive hypertrophic cardiomyopathy, and heart failure with preserved ejection fraction; TP-03 for the treatment of Demodex blepharitis; NBTXR3 for the treatment of head and neck squamous cell carcinoma, and solid tumor IO combinations; Infigratinib for the treatment of second-line and first-line cholangiocarcinoma, and gastric and other cancers; BBP-398 for solid tumors; Omilancor for ulcerative and Crohn's disease; NH-13 for ulcerative colitis; LYR-210 for chronic rhinosinusitis; and Sisunatovir for respiratory syncytical virus.

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