Chemomab Therapeutics Ltd. (NASDAQ:CMMB) Sees Significant Decrease in Short Interest

Chemomab Therapeutics Ltd. (NASDAQ:CMMB) was the target of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 269,500 shares, a decrease of 30.9% from the February 28th total of 389,900 shares. Based on an average daily volume of 333,500 shares, the days-to-cover ratio is presently 0.8 days. Currently, 1.6% of the company’s stock are sold short.

Chemomab Therapeutics Stock Down 4.9 %

Shares of Chemomab Therapeutics stock traded down $0.06 on Monday, hitting $1.08. 285,205 shares of the company’s stock traded hands, compared to its average volume of 208,105. The stock has a market cap of $15.44 million, a P/E ratio of -1.08 and a beta of 0.54. The firm’s 50-day moving average is $1.70 and its 200 day moving average is $1.68. Chemomab Therapeutics has a 52-week low of $0.58 and a 52-week high of $2.55.

Wall Street Analyst Weigh In

Separately, Maxim Group raised their target price on Chemomab Therapeutics from $4.00 to $7.00 and gave the company a “buy” rating in a research note on Thursday, February 20th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Sphera Funds Management LTD. bought a new position in shares of Chemomab Therapeutics during the third quarter worth about $1,907,000. XTX Topco Ltd increased its holdings in Chemomab Therapeutics by 63.8% in the fourth quarter. XTX Topco Ltd now owns 24,929 shares of the company’s stock valued at $45,000 after buying an additional 9,706 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in Chemomab Therapeutics during the fourth quarter valued at approximately $26,000. 46.05% of the stock is owned by institutional investors and hedge funds.

Chemomab Therapeutics Company Profile

Chemomab Therapeutics Ltd., a clinical-stage biotechnology company, discovers and develops therapeutics for the treatment of fibrotic and inflammatory diseases. The company's lead clinical product candidate is CM-101, a humanized monoclonal antibody had completed Phase 2a clinical trials that hinders the basic function of soluble chemokine CCL24 for the treatment of primary sclerosing cholangitis (PSC) and systemic sclerosis (SSc).