Connect Biopharma Holdings Limited (NASDAQ:CNTB) Short Interest Up 76.0% in August

Connect Biopharma Holdings Limited (NASDAQ:CNTB) was the target of a large increase in short interest in August. As of August 31st, there was short interest totalling 21,300 shares, an increase of 76.0% from the August 15th total of 12,100 shares. Based on an average daily volume of 50,600 shares, the short-interest ratio is presently 0.4 days. Currently, 0.0% of the shares of the stock are short sold.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Connect Biopharma

A hedge fund recently raised its stake in Connect Biopharma stock. Keudell Morrison Wealth Management raised its stake in shares of Connect Biopharma Holdings Limited (NASDAQ:CNTB) by 75.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,700 shares of the company’s stock after acquiring an additional 8,500 shares during the period. Keudell Morrison Wealth Management’s holdings in Connect Biopharma were worth $34,000 as of its most recent SEC filing. 58.72% of the stock is currently owned by hedge funds and other institutional investors.

Connect Biopharma Stock Performance

Shares of CNTB traded up $0.03 during trading hours on Friday, hitting $1.23. The stock had a trading volume of 8,772 shares, compared to its average volume of 95,628. The firm has a 50 day simple moving average of $1.21 and a 200-day simple moving average of $1.42. Connect Biopharma has a 1-year low of $0.53 and a 1-year high of $2.84.

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.