Is Innovate Biopharmaceuticals Inc (NASDAQ:INNT)’s Fuel Running Low? Reports Show More Sellers

May 30, 2018 - By Winifred Garcia

The stock of Innovate Biopharmaceuticals Inc (NASDAQ:INNT) registered an increase of 46.54% in short interest. INNT’s total short interest was 545,700 shares in May as published by FINRA. Its up 46.54% from 372,400 shares, reported previously. With 229,300 shares average volume, it will take short sellers 2 days to cover their INNT’s short positions.

The stock decreased 6.20% or $0.83 during the last trading session, reaching $12.55. About 137,917 shares traded. Innovate Biopharmaceuticals, Inc. (NASDAQ:INNT) has risen 156.72% since May 30, 2017 and is uptrending. It has outperformed by 144.15% the S&P500.

Innovate Biopharmaceuticals, Inc., a clinical stage biotechnology company, focuses on developing autoimmune and inflammation therapeutics. The company has market cap of $322.48 million. The Company’s late-stage clinical pipeline focuses on addressing unmet needs in diseases, such as celiac disease, inflammatory bowel disease , and nonalcoholic steatohepatitis (NASH). It currently has negative earnings. The company's lead drug candidate, larazotide acetate (INN-202), has successfully met its primary endpoint in a Phase 2b efficacy clinical trial for celiac disease.

Another recent and important Innovate Biopharmaceuticals, Inc. (NASDAQ:INNT) news was published by Nasdaq.com which published an article titled: “Innovate Biopharmaceuticals Announces Acceptance of Two Abstracts for the Digestive Disease Week 2018 Conference” on May 09, 2018.

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