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

Connect Biopharma Holdings Limited (NASDAQ:CNTB) was the recipient of a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 22,400 shares, an increase of 5.2% from the August 31st total of 21,300 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 42,600 shares, the days-to-cover ratio is presently 0.5 days.

Analyst Upgrades and Downgrades

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

Connect Biopharma Trading Down 2.8 %

Connect Biopharma stock opened at $1.40 on Wednesday. The firm’s 50 day moving average price is $1.21 and its two-hundred day moving average price is $1.43. Connect Biopharma has a twelve month low of $0.68 and a twelve month high of $2.84.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Connect Biopharma stock. Keudell Morrison Wealth Management boosted its position in Connect Biopharma Holdings Limited (NASDAQ:CNTB) by 75.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,700 shares of the company’s stock after buying an additional 8,500 shares during the quarter. Keudell Morrison Wealth Management’s holdings in Connect Biopharma were worth $34,000 at the end of the most recent reporting period. Institutional investors own 58.72% of the company’s stock.

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.