Connect Biopharma Holdings Limited (NASDAQ:CNTB) Short Interest Down 7.4% in November

Connect Biopharma Holdings Limited (NASDAQ:CNTB) was the recipient of a large decrease in short interest in November. As of November 30th, there was short interest totalling 57,200 shares, a decrease of 7.4% from the November 15th total of 61,800 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 26,600 shares, the days-to-cover ratio is presently 2.2 days.

Institutional Trading of Connect Biopharma

An institutional investor recently raised its position in Connect Biopharma stock. BML Capital Management LLC lifted its position in Connect Biopharma Holdings Limited (NASDAQ:CNTB) by 2.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,093,232 shares of the company’s stock after acquiring an additional 49,984 shares during the quarter. Connect Biopharma accounts for 1.8% of BML Capital Management LLC’s portfolio, making the stock its 13th largest position. BML Capital Management LLC owned about 3.79% of Connect Biopharma worth $3,014,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 58.72% of the company’s stock.

Connect Biopharma Trading Down 2.5 %

CNTB stock traded down $0.03 on Monday, hitting $1.09. The company had a trading volume of 35,301 shares, compared to its average volume of 77,326. Connect Biopharma has a 12-month low of $0.77 and a 12-month high of $2.66. The stock’s 50-day simple moving average is $1.14 and its 200 day simple moving average is $1.26.

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 report on Friday, September 6th.

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.