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

Connect Biopharma Holdings Limited (NASDAQ:CNTB) saw a large growth in short interest in November. As of November 15th, there was short interest totalling 61,800 shares, a growth of 110.2% from the October 31st total of 29,400 shares. Based on an average daily trading volume, of 29,800 shares, the short-interest ratio is presently 2.1 days. Approximately 0.1% of the shares of the stock are sold short.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Connect Biopharma stock. BML Capital Management LLC increased its stake in Connect Biopharma Holdings Limited (NASDAQ:CNTB) by 2.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,093,232 shares of the company’s stock after acquiring an additional 49,984 shares during the quarter. Connect Biopharma makes up 1.8% of BML Capital Management LLC’s holdings, making the stock its 13th largest holding. BML Capital Management LLC owned about 3.79% of Connect Biopharma worth $3,014,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 58.72% of the company’s stock.

Connect Biopharma Stock Performance

Shares of CNTB traded up $0.03 during mid-day trading on Friday, hitting $1.06. The company’s stock had a trading volume of 13,523 shares, compared to its average volume of 79,222. Connect Biopharma has a fifty-two week low of $0.68 and a fifty-two week high of $2.66. The firm has a 50-day moving average price of $1.20 and a 200 day moving average price of $1.32.

Analyst Upgrades and Downgrades

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

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.