Short Interest in Connect Biopharma Holdings Limited (NASDAQ:CNTB) Rises By 26.7%

Posted by Martin Roberts on Oct 30th, 2024

Connect Biopharma Holdings Limited (NASDAQ:CNTB – Get Free Report) was the target of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 45,500 shares, a growth of 26.7% from the September 30th total of 35,900 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily volume of 27,300 shares, the days-to-cover ratio is presently 1.7 days.

Connect Biopharma Stock Down 4.8 %

Shares of NASDAQ CNTB opened at $1.20 on Wednesday. The business has a fifty day simple moving average of $1.26 and a two-hundred day simple moving average of $1.38. Connect Biopharma has a twelve month low of $0.68 and a twelve month high of $2.84.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Connect Biopharma stock. Keudell Morrison Wealth Management lifted its position in Connect Biopharma Holdings Limited (NASDAQ:CNTB – Free Report) by 63.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,200 shares of the company’s stock after acquiring an additional 12,500 shares during the period. Keudell Morrison Wealth Management owned 0.06% of Connect Biopharma worth $49,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 58.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

View Our Latest Report on Connect Biopharma

About Connect Biopharma

(Get Free Report)

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.