Short Interest in Connect Biopharma Holdings Limited (NASDAQ:CNTB) Declines By 77.9%

Connect Biopharma Holdings Limited (NASDAQ:CNTB) saw a large drop in short interest in March. As of March 15th, there was short interest totalling 10,300 shares, a drop of 77.9% from the February 28th total of 46,700 shares. Based on an average daily trading volume, of 20,500 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.0% of the company’s shares are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Callan Capital LLC raised 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 worth $110,000 after buying an additional 38,177 shares in the last quarter. Choreo LLC bought a new position in shares of Connect Biopharma in the 4th quarter worth $204,000. Finally, Catalina Capital Group LLC purchased a new stake in shares of Connect Biopharma during the 4th quarter worth $66,000. 58.72% of the stock is currently owned by hedge funds and other institutional investors.

Connect Biopharma Stock Performance

Shares of CNTB stock opened at $0.68 on Friday. The company’s 50-day simple moving average is $0.90 and its two-hundred day simple moving average is $1.07. Connect Biopharma has a one year low of $0.68 and a one year high of $2.66.

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.