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

Connect Biopharma Holdings Limited (NASDAQ:CNTB) saw a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 45,500 shares, an increase of 26.7% from the September 30th total of 35,900 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 27,300 shares, the short-interest ratio is currently 1.7 days.

Analyst Upgrades and Downgrades

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

Connect Biopharma Stock Performance

NASDAQ:CNTB traded down $0.02 during mid-day trading on Wednesday, reaching $1.18. The stock had a trading volume of 379 shares, compared to its average volume of 83,950. Connect Biopharma has a one year low of $0.68 and a one year high of $2.84. The firm has a 50 day moving average price of $1.26 and a two-hundred day moving average price of $1.38.

Institutional Investors Weigh In On Connect Biopharma

An institutional investor recently raised its position in Connect Biopharma stock. Keudell Morrison Wealth Management raised its holdings in shares of Connect Biopharma Holdings Limited (NASDAQ:CNTB) by 63.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,200 shares of the company’s stock after buying an additional 12,500 shares during the period. Keudell Morrison Wealth Management owned about 0.06% of Connect Biopharma worth $49,000 at the end of the most recent reporting period. 58.72% of the stock is currently owned by institutional investors.

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.