Connect Biopharma Holdings Limited (NASDAQ:CNTB) Sees Significant Increase in Short Interest

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

Analyst Ratings Changes

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.

Institutional Trading of Connect Biopharma

An institutional investor recently raised its position in Connect Biopharma stock. BML Capital Management LLC raised its holdings in Connect Biopharma Holdings Limited (NASDAQ:CNTB) by 2.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,093,232 shares of the company’s stock after acquiring an additional 49,984 shares during the period. Connect Biopharma accounts for about 1.8% of BML Capital Management LLC’s holdings, making the stock its 13th biggest position. BML Capital Management LLC owned 3.79% of Connect Biopharma worth $3,014,000 at the end of the most recent quarter. 58.72% of the stock is currently owned by institutional investors.

Connect Biopharma Stock Up 17.5 %

CNTB stock opened at $1.14 on Monday. The stock’s 50 day moving average price is $1.09 and its 200 day moving average price is $1.21. Connect Biopharma has a 1 year low of $0.90 and a 1 year 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.