Short Interest in Zhengye Biotechnology Holding Limited (NASDAQ:ZYBT) Expands By 417.6%

Zhengye Biotechnology Holding Limited (NASDAQ:ZYBT) was the recipient of a significant increase in short interest in July. As of July 31st, there was short interest totaling 296,924 shares, an increase of 417.6% from the July 15th total of 57,363 shares. Currently, 0.6% of the shares of the company are short sold. Based on an average daily volume of 19,111,558 shares, the days-to-cover ratio is currently 0.0 days.

Zhengye Biotechnology Stock Down 1.3%

Shares of NASDAQ:ZYBT traded down $0.02 during mid-day trading on Thursday, reaching $1.53. 158,697 shares of the company traded hands, compared to its average volume of 2,225,819. The company’s 50 day moving average price is $1.23 and its 200-day moving average price is $1.02. The company has a current ratio of 1.14, a quick ratio of 0.82 and a debt-to-equity ratio of 0.03. Zhengye Biotechnology has a 52 week low of $0.62 and a 52 week high of $13.08.

Hedge Funds Weigh In On Zhengye Biotechnology

Several institutional investors have recently bought and sold shares of ZYBT. Citadel Advisors LLC bought a new stake in shares of Zhengye Biotechnology in the 3rd quarter worth about $31,000. Millennium Management LLC bought a new position in Zhengye Biotechnology during the 3rd quarter valued at about $38,000. WINTON GROUP Ltd purchased a new stake in Zhengye Biotechnology in the 3rd quarter worth about $56,000. Geode Capital Management LLC purchased a new stake in Zhengye Biotechnology in the 2nd quarter worth about $174,000. Finally, Invesco Ltd. bought a new stake in Zhengye Biotechnology in the second quarter worth about $220,000.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Zhengye Biotechnology from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, July 20th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Zhengye Biotechnology has an average rating of “Sell”.

About Zhengye Biotechnology

Zhengye Biotechnology Holding Limited is a veterinary vaccine manufacturer which encompasses research, development, manufacturing and sales of veterinary vaccines, with a focus on livestock vaccine principally in China. Zhengye Biotechnology Holding Limited is based in Jilin, China.