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

Connect Biopharma Holdings Limited (NASDAQ:CNTB) was the recipient of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 29,400 shares, a decrease of 35.4% from the October 15th total of 45,500 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average trading volume of 29,500 shares, the short-interest ratio is currently 1.0 days.

Analysts Set New Price Targets

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

Connect Biopharma Trading Up 12.1 %

Connect Biopharma stock traded up $0.12 during midday trading on Friday, hitting $1.11. The stock had a trading volume of 34,063 shares, compared to its average volume of 81,498. The firm’s fifty day moving average is $1.24 and its two-hundred day moving average is $1.35. Connect Biopharma has a 52-week low of $0.68 and a 52-week high of $2.84.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Connect Biopharma stock. BML Capital Management LLC boosted its position in shares of Connect Biopharma Holdings Limited (NASDAQ:CNTB) by 2.4% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 2,093,232 shares of the company’s stock after acquiring an additional 49,984 shares during the quarter. Connect Biopharma comprises about 1.8% of BML Capital Management LLC’s portfolio, making the stock its 13th largest position. BML Capital Management LLC owned about 3.79% of Connect Biopharma worth $3,014,000 at the end of the most recent reporting period. 58.72% of the stock is currently owned by hedge funds and other institutional investors.

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.