LianBio (NASDAQ:LIAN) Trading 6.6% Higher

LianBio (NASDAQ:LIAN)’s stock price shot up 6.6% during trading on Friday . The stock traded as high as $0.32 and last traded at $0.32. 34,110 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 1,037,083 shares. The stock had previously closed at $0.30.

LianBio Price Performance

The stock has a market cap of $34.58 million, a price-to-earnings ratio of -0.40 and a beta of 0.23. The business’s 50-day simple moving average is $0.31 and its two-hundred day simple moving average is $1.57.

Institutional Trading of LianBio

A hedge fund recently raised its stake in LianBio stock. Axxcess Wealth Management LLC increased its position in shares of LianBio (NASDAQ:LIAN) by 63.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,126 shares of the company’s stock after buying an additional 10,536 shares during the period. Axxcess Wealth Management LLC’s holdings in LianBio were worth $121,000 at the end of the most recent reporting period. 74.85% of the stock is owned by hedge funds and other institutional investors.

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.