Bank of New York Mellon Corp Boosts Stake in Innovate Biopharmaceuticals Inc (INNT)

Bank of New York Mellon Corp grew its holdings in Innovate Biopharmaceuticals Inc (NASDAQ:INNT) by 71.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 68,676 shares of the company’s stock after buying an additional 28,648 shares during the quarter. Bank of New York Mellon Corp’s holdings in Innovate Biopharmaceuticals were worth $158,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of INNT. BlackRock Inc. raised its position in shares of Innovate Biopharmaceuticals by 34.1% in the third quarter. BlackRock Inc. now owns 1,183,763 shares of the company’s stock valued at $8,084,000 after purchasing an additional 301,142 shares during the period. Vanguard Group Inc raised its position in shares of Innovate Biopharmaceuticals by 387.1% in the third quarter. Vanguard Group Inc now owns 324,315 shares of the company’s stock valued at $2,215,000 after purchasing an additional 257,730 shares during the period. Vanguard Group Inc. raised its position in shares of Innovate Biopharmaceuticals by 387.1% in the third quarter. Vanguard Group Inc. now owns 324,315 shares of the company’s stock valued at $2,215,000 after purchasing an additional 257,730 shares during the period. Finally, Rhumbline Advisers raised its position in shares of Innovate Biopharmaceuticals by 47.2% in the fourth quarter. Rhumbline Advisers now owns 23,372 shares of the company’s stock valued at $54,000 after purchasing an additional 7,490 shares during the period. 10.27% of the stock is currently owned by institutional investors.

NASDAQ INNT opened at $1.55 on Friday. Innovate Biopharmaceuticals Inc has a 12-month low of $1.41 and a 12-month high of $29.09.

Innovate Biopharmaceuticals (NASDAQ:INNT) last posted its quarterly earnings results on Monday, March 18th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11).

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About Innovate Biopharmaceuticals

Innovate Biopharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops medicines for autoimmune and inflammatory diseases. The company's lead product candidate is INN-202 that has completed Phase IIb clinical trial for the treatment of celiac disease. It also develops INN-108, which has completed Phase I clinical trial to treat mild-to-moderate ulcerative colitis; INN-217 for the treatment of non-alcoholic steatohepatitis and microbiome; and INN-289 to treat crohn's disease, as well as product for the treatment of alcoholic steatohepatitis (ASH).

Further Reading: Stock Split

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Institutional Ownership by Quarter for Innovate Biopharmaceuticals (NASDAQ:INNT)

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