Connect Biopharma Holdings Limited (NASDAQ:CNTB) Short Interest Down 7.4% in November

Connect Biopharma Holdings Limited (NASDAQ:CNTB) was the target of a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 57,200 shares, a drop of 7.4% from the November 15th total of 61,800 shares. Based on an average daily volume of 26,600 shares, the short-interest ratio is presently 2.2 days. Currently, 0.1% of the shares of the company are short sold.

Institutional Trading of Connect Biopharma

An institutional investor recently raised its position in Connect Biopharma stock. BML Capital Management LLC increased its position in shares of Connect Biopharma Holdings Limited (NASDAQ:CNTB) by 2.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,093,232 shares of the company’s stock after purchasing an additional 49,984 shares during the period. Connect Biopharma makes up about 1.8% of BML Capital Management LLC’s portfolio, making the stock its 13th biggest holding. BML Capital Management LLC owned approximately 3.79% of Connect Biopharma worth $3,014,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 58.72% of the company’s stock.

Connect Biopharma Price Performance

NASDAQ:CNTB opened at $1.06 on Wednesday. The stock has a 50 day simple moving average of $1.14 and a 200 day simple moving average of $1.25. Connect Biopharma has a 1-year low of $0.77 and a 1-year high of $2.66.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and set a $8.00 price target on shares of Connect Biopharma in a report on Friday, September 6th.

Connect Biopharma Company Profile

Connect Biopharma Holdings Limited, a clinical-stage biopharmaceutical company, engages in the development of therapies for the treatment of T cell-driven inflammatory diseases. The company is building a pipeline of small molecules and antibodies using functional T cell assays to screen and discover potent product candidates against validated immune targets.