Connect Biopharma Holdings Limited (NASDAQ:CNTB) Sees Large Growth in Short Interest

Connect Biopharma Holdings Limited (NASDAQ:CNTB) was the target of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 87,800 shares, a growth of 53.5% from the November 30th total of 57,200 shares. Based on an average daily volume of 28,200 shares, the days-to-cover ratio is presently 3.1 days. Currently, 0.2% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Connect Biopharma

A hedge fund recently raised its stake in Connect Biopharma stock. BML Capital Management LLC lifted its holdings in Connect Biopharma Holdings Limited (NASDAQ:CNTB) by 2.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,093,232 shares of the company’s stock after purchasing an additional 49,984 shares during the period. Connect Biopharma comprises 1.8% of BML Capital Management LLC’s holdings, making the stock its 13th biggest holding. BML Capital Management LLC owned about 3.79% of Connect Biopharma worth $3,014,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 58.72% of the company’s stock.

Connect Biopharma Trading Up 17.5 %

Shares of CNTB stock opened at $1.14 on Monday. Connect Biopharma has a 1 year low of $0.90 and a 1 year high of $2.66. The business’s fifty day moving average is $1.09 and its 200-day moving average is $1.21.

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.