Connect Biopharma Holdings Limited (NASDAQ:CNTB) Short Interest Up 56.7% in February

Connect Biopharma Holdings Limited (NASDAQ:CNTB) was the recipient of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 46,700 shares, an increase of 56.7% from the February 13th total of 29,800 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 24,400 shares, the short-interest ratio is currently 1.9 days.

Institutional Investors Weigh In On Connect Biopharma

Several institutional investors and hedge funds have recently made changes to their positions in the business. Callan Capital LLC lifted its position in shares of Connect Biopharma by 91.3% in the fourth quarter. Callan Capital LLC now owns 80,000 shares of the company’s stock valued at $110,000 after acquiring an additional 38,177 shares in the last quarter. Choreo LLC purchased a new position in Connect Biopharma in the 4th quarter valued at about $204,000. Finally, Catalina Capital Group LLC acquired a new stake in shares of Connect Biopharma during the 4th quarter worth about $66,000. 58.72% of the stock is currently owned by hedge funds and other institutional investors.

Connect Biopharma Stock Down 2.1 %

Shares of NASDAQ:CNTB traded down $0.02 during midday trading on Monday, hitting $0.84. The stock had a trading volume of 6,640 shares, compared to its average volume of 17,959. Connect Biopharma has a 1 year low of $0.77 and a 1 year high of $2.66. The stock has a 50 day moving average price of $0.96 and a two-hundred day moving average price of $1.11.

About Connect Biopharma

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.