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

Connect Biopharma Holdings Limited (NASDAQ:CNTB) was the recipient of a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 57,200 shares, a decrease 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 company’s stock are sold short.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Connect Biopharma stock. BML Capital Management LLC grew its holdings in Connect Biopharma Holdings Limited (NASDAQ:CNTB) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,093,232 shares of the company’s stock after buying an additional 49,984 shares during the period. Connect Biopharma accounts for 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 quarter. Hedge funds and other institutional investors own 58.72% of the company’s stock.

Connect Biopharma Price Performance

Shares of NASDAQ CNTB opened at $1.06 on Wednesday. The stock has a 50 day moving average price of $1.14 and a 200 day moving average price of $1.25. Connect Biopharma has a 52 week low of $0.77 and a 52 week high of $2.66.

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.