Connect Biopharma Holdings Limited (NASDAQ:CNTB) Short Interest Down 77.9% in March

Connect Biopharma Holdings Limited (NASDAQ:CNTB) saw a significant drop in short interest in March. As of March 15th, there was short interest totalling 10,300 shares, a drop of 77.9% from the February 28th total of 46,700 shares. Based on an average trading volume of 20,500 shares, the short-interest ratio is presently 0.5 days. Currently, 0.0% of the company’s stock are short sold.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Choreo LLC acquired a new position in shares of Connect Biopharma during the fourth quarter valued at about $204,000. Callan Capital LLC raised its holdings in shares of Connect Biopharma by 91.3% in the fourth quarter. Callan Capital LLC now owns 80,000 shares of the company’s stock worth $110,000 after buying an additional 38,177 shares during the last quarter. Finally, Catalina Capital Group LLC acquired a new stake in shares of Connect Biopharma during the fourth quarter worth $66,000. 58.72% of the stock is owned by institutional investors and hedge funds.

Connect Biopharma Stock Down 10.5 %

Shares of CNTB stock opened at $0.68 on Friday. Connect Biopharma has a 12-month low of $0.68 and a 12-month high of $2.66. The business’s fifty day simple moving average is $0.90 and its 200-day simple moving average is $1.07.

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.