Connect Biopharma Holdings Limited (NASDAQ:CNTB) Short Interest Update

Connect Biopharma Holdings Limited (NASDAQ:CNTB) saw a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 45,500 shares, an increase of 26.7% from the September 30th total of 35,900 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 27,300 shares, the days-to-cover ratio is currently 1.7 days.

Connect Biopharma Price Performance

CNTB traded down $0.06 during midday trading on Wednesday, hitting $1.20. 8,039 shares of the company’s stock traded hands, compared to its average volume of 84,350. Connect Biopharma has a one year low of $0.68 and a one year high of $2.84. The stock’s fifty day simple moving average is $1.26 and its 200-day simple moving average is $1.38.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Connect Biopharma stock. Keudell Morrison Wealth Management grew its position in Connect Biopharma Holdings Limited (NASDAQ:CNTB) by 75.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,700 shares of the company’s stock after acquiring an additional 8,500 shares during the period. Keudell Morrison Wealth Management’s holdings in Connect Biopharma were worth $34,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 58.72% of the company’s stock.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price objective 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.