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

Connect Biopharma Holdings Limited (NASDAQ:CNTB) was the target of a large growth in short interest during 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. Currently, 0.2% of the shares of the stock are short sold. Based on an average trading volume of 28,200 shares, the days-to-cover ratio is currently 3.1 days.

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 report on Friday, September 6th.

Connect Biopharma Price Performance

Connect Biopharma stock opened at $1.14 on Monday. Connect Biopharma has a fifty-two week low of $0.90 and a fifty-two week high of $2.66. The firm’s 50 day simple moving average is $1.09 and its 200-day simple moving average is $1.21.

Hedge Funds Weigh In On Connect Biopharma

An institutional investor recently raised its position in Connect Biopharma stock. BML Capital Management LLC lifted its holdings in Connect Biopharma Holdings Limited (NASDAQ:CNTB) by 2.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,093,232 shares of the company’s stock after buying an additional 49,984 shares during the period. Connect Biopharma comprises approximately 1.8% of BML Capital Management LLC’s portfolio, making the stock its 13th biggest position. BML Capital Management LLC owned about 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.

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.