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

Connect Biopharma Holdings Limited (NASDAQ:CNTB) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 22,400 shares, a growth of 5.2% from the August 31st total of 21,300 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average trading volume of 42,600 shares, the short-interest ratio is presently 0.5 days.

Connect Biopharma Trading Down 0.7 %

CNTB traded down $0.01 during trading on Tuesday, reaching $1.43. The company had a trading volume of 1,667 shares, compared to its average volume of 90,656. Connect Biopharma has a 12-month low of $0.68 and a 12-month high of $2.84. The firm’s 50-day simple moving average is $1.21 and its 200 day simple moving average is $1.43.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Connect Biopharma stock. Keudell Morrison Wealth Management raised its position in shares of Connect Biopharma Holdings Limited (NASDAQ:CNTB) by 63.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,200 shares of the company’s stock after purchasing an additional 12,500 shares during the quarter. Keudell Morrison Wealth Management owned 0.06% of Connect Biopharma worth $49,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 58.72% of the company’s stock.

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.