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

Connect Biopharma Holdings Limited (NASDAQ:CNTB) saw a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 61,800 shares, an increase of 110.2% from the October 31st total of 29,400 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily volume of 29,800 shares, the days-to-cover ratio is currently 2.1 days.

Connect Biopharma Stock Up 2.9 %

Shares of NASDAQ CNTB traded up $0.03 during trading on Friday, reaching $1.06. 13,523 shares of the stock traded hands, compared to its average volume of 79,222. Connect Biopharma has a 52-week low of $0.68 and a 52-week high of $2.66. The company has a 50-day moving average of $1.20 and a 200-day moving average of $1.32.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Connect Biopharma stock. BML Capital Management LLC grew its stake in Connect Biopharma Holdings Limited (NASDAQ:CNTB) by 2.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,093,232 shares of the company’s stock after purchasing an additional 49,984 shares during the quarter. Connect Biopharma comprises about 1.8% of BML Capital Management LLC’s holdings, making the stock its 13th biggest holding. BML Capital Management LLC owned about 3.79% of Connect Biopharma worth $3,014,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 58.72% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.