Short Interest in Connect Biopharma Holdings Limited (NASDAQ:CNTB) Grows By 56.7%

Connect Biopharma Holdings Limited (NASDAQ:CNTB) was the recipient of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 46,700 shares, an increase of 56.7% from the February 13th total of 29,800 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 24,400 shares, the days-to-cover ratio is currently 1.9 days.

Hedge Funds Weigh In On Connect Biopharma

Several hedge funds and other institutional investors have recently bought and sold shares of CNTB. Catalina Capital Group LLC acquired a new position in shares of Connect Biopharma in the fourth quarter worth $66,000. 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 acquiring an additional 38,177 shares during the last quarter. Finally, Choreo LLC acquired a new position in shares of Connect Biopharma in the fourth quarter worth $204,000. 58.72% of the stock is owned by institutional investors and hedge funds.

Connect Biopharma Stock Performance

CNTB stock traded up $0.01 during midday trading on Friday, hitting $0.86. 10,103 shares of the stock were exchanged, compared to its average volume of 18,194. The stock’s 50-day moving average price is $0.96 and its 200-day moving average price is $1.11. Connect Biopharma has a fifty-two week low of $0.77 and a fifty-two week high of $2.66.

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.