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

Connect Biopharma Holdings Limited (NASDAQ:CNTB) was the target of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 46,700 shares, a growth of 56.7% from the February 13th total of 29,800 shares. Based on an average daily trading volume, of 24,400 shares, the days-to-cover ratio is presently 1.9 days. Approximately 0.1% of the company’s stock are sold short.

Connect Biopharma Trading Down 2.1 %

Shares of NASDAQ CNTB traded down $0.02 during mid-day trading on Monday, reaching $0.84. The company had a trading volume of 6,640 shares, compared to its average volume of 17,959. The firm has a 50 day simple moving average of $0.96 and a two-hundred day simple moving average of $1.11. Connect Biopharma has a 52-week low of $0.77 and a 52-week high of $2.66.

Institutional Trading of Connect Biopharma

Institutional investors and hedge funds have recently made changes to their positions in the company. Choreo LLC purchased a new stake in Connect Biopharma in the fourth quarter valued at approximately $204,000. Callan Capital LLC increased its stake in Connect Biopharma by 91.3% in the fourth quarter. Callan Capital LLC now owns 80,000 shares of the company’s stock valued at $110,000 after purchasing an additional 38,177 shares during the period. Finally, Catalina Capital Group LLC acquired a new stake in shares of Connect Biopharma during the fourth quarter worth about $66,000. 58.72% of the stock is owned by hedge funds and other institutional investors.

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.