LianBio (NASDAQ:LIAN) Trading Down 5.3%

LianBio (NASDAQ:LIAN) dropped 5.3% during mid-day trading on Friday . The company traded as low as $0.29 and last traded at $0.29. Approximately 2,150 shares were traded during mid-day trading, a decline of 100% from the average daily volume of 1,037,083 shares. The stock had previously closed at $0.31.

Analysts Set New Price Targets

LIAN has been the subject of a number of research analyst reports. Jefferies Financial Group cut LianBio from a “buy” rating to a “hold” rating and decreased their target price for the company from $7.00 to $4.00 in a research report on Friday, December 22nd. Bank of America cut LianBio from a “buy” rating to an “underperform” rating and decreased their target price for the company from $5.00 to $3.00 in a research report on Wednesday, January 3rd.

LianBio Stock Performance

The business has a 50-day simple moving average of $2.86 and a two-hundred day simple moving average of $3.32. The company has a market capitalization of $31.73 million, a price-to-earnings ratio of -0.36 and a beta of 0.23.

LianBio Dividend Announcement

The business also recently disclosed a — dividend, which was paid on Thursday, March 14th. Shareholders of record on Tuesday, February 27th were given a dividend of $4.80 per share. The ex-dividend date was Friday, March 15th.

Institutional Trading of LianBio

A number of hedge funds have recently added to or reduced their stakes in LIAN. Landscape Capital Management L.L.C. purchased a new position in shares of LianBio during the 3rd quarter worth approximately $196,000. TD Asset Management Inc raised its holdings in LianBio by 100.0% during the third quarter. TD Asset Management Inc now owns 357,038 shares of the company’s stock worth $532,000 after purchasing an additional 178,519 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of LianBio by 27.3% in the third quarter. Acadian Asset Management LLC now owns 181,144 shares of the company’s stock worth $268,000 after acquiring an additional 38,808 shares during the last quarter. 22NW LP raised its holdings in shares of LianBio by 1,466.1% in the third quarter. 22NW LP now owns 2,211,678 shares of the company’s stock worth $3,295,000 after acquiring an additional 2,070,455 shares during the last quarter. Finally, Vident Investment Advisory LLC acquired a new position in shares of LianBio in the first quarter worth $74,000. 74.85% of the stock is owned by institutional investors and hedge funds.

LianBio Company Profile

LianBio, a biopharmaceutical company, engages in developing and commercializing medicines for cardiovascular, oncology, 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 and meibomian gland disease; NBTXR3 for the treatment of head and neck squamous cell carcinoma, and solid tumor; Infigratinib for the treatment of second-line and first-line cholangiocarcinoma, and gastric cancers; BBP-398 for solid tumors; Omilancor and NX-13 for ulcerative colitis and Crohn's disease; LYR-210 for chronic rhinosinusitis; and Sisunatovir for respiratory syncytical virus.