Connect Biopharma Holdings Limited (NASDAQ:CNTB) Short Interest Up 110.2% in November

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

Wall Street Analyst Weigh In

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

Institutional Trading of Connect Biopharma

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

Connect Biopharma Trading Up 6.1 %

Shares of NASDAQ:CNTB traded up $0.06 during midday trading on Thursday, hitting $1.03. 39,163 shares of the company’s stock were exchanged, compared to its average volume of 79,508. Connect Biopharma has a 12 month low of $0.68 and a 12 month high of $2.66. The stock has a 50 day moving average price of $1.20 and a 200-day moving average price of $1.32.

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.