LianBio (NASDAQ:LIAN) Trading 5.8% Higher

LianBio (NASDAQ:LIAN)’s share price rose 5.8% on Wednesday . The stock traded as high as $0.36 and last traded at $0.36. Approximately 3,680 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 $0.34.

LianBio Stock Up 5.8 %

The business has a 50-day simple moving average of $0.32 and a 200-day simple moving average of $0.61. The company has a market cap of $38.87 million, a PE ratio of -0.44 and a beta of 0.23.

Hedge Funds Weigh In On LianBio

An institutional investor recently raised its position in LianBio stock. Affinity Asset Advisors LLC raised its stake in LianBio (NASDAQ:LIAN) by 462.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,779,694 shares of the company’s stock after purchasing an additional 3,107,337 shares during the period. LianBio comprises 3.1% of Affinity Asset Advisors LLC’s investment portfolio, making the stock its 9th biggest position. Affinity Asset Advisors LLC owned approximately 3.50% of LianBio worth $16,895,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 74.85% of the company’s stock.

About LianBio

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.