Hit With Short Seller Report, Renovaro Biosciences Comments On Hindenburg's Opinion Piece
Portfolio Pulse from Vandana Singh
Renovaro Biosciences Inc (NASDAQ:RENB) responded to Hindenburg Research's short seller report, calling it a rehashed attempt to profit from a short position in RENB. The company highlighted the addition of four leaders to its board, refuted claims about its AI technology, and announced a LOI with Cyclomics for liquid biopsies. Despite the attack, RENB shares rose 18.20% to $2.27.
February 14, 2024 | 5:51 pm
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Renovaro Biosciences Inc responded to a short seller report by Hindenburg, refuting claims and announcing a partnership with Cyclomics.
The positive response from Renovaro Biosciences to the short seller report, coupled with the announcement of a new partnership, likely contributed to the stock's 18.20% increase. The company's proactive stance and refutation of the claims may restore investor confidence in the short term, leading to a positive impact on the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100