Citigroup believes that Innovent Bio's strong sales performance and overseas clinical progress will sustainably restore investor confidence.
According to the Wisdom Finance APP, Citigroup released a research report stating that Innovent Bio (01801) announced the termination of the Fortvita subscription trade. The company's management mentioned in an investor conference this morning (4th) that the original intention of this trade was to accelerate the development of the company's overseas business Fortvita. After the trade termination, there are currently no further financing plans for Fortvita. Since the announcement of the trade, the group's stock price has dropped by over 20%. Looking ahead, the bank believes that the group's strong sales performance and overseas clinical progress will sustainably restore investor confidence. Rated 'buy', with a target price of HK$55.