Connect Biopharma Holdings Limited (NASDAQ:CNTB) Sees Large Growth in Short Interest

Connect Biopharma Holdings Limited (NASDAQ:CNTB) was the target of a significant increase in short interest in 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. Based on an average daily volume of 42,600 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.0% of the shares of the company are short sold.

Institutional Trading of Connect Biopharma

An institutional investor recently raised its position in Connect Biopharma stock. Keudell Morrison Wealth Management increased its position in shares of Connect Biopharma Holdings Limited (NASDAQ:CNTB) by 75.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,700 shares of the company’s stock after acquiring an additional 8,500 shares during the period. Keudell Morrison Wealth Management’s holdings in Connect Biopharma were worth $34,000 at the end of the most recent quarter. 58.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Connect Biopharma Price Performance

Shares of NASDAQ CNTB traded down $0.01 during mid-day trading on Tuesday, reaching $1.43. 1,667 shares of the company traded hands, compared to its average volume of 90,656. Connect Biopharma has a fifty-two week low of $0.68 and a fifty-two week high of $2.84. The stock has a fifty day simple moving average of $1.21 and a 200-day simple moving average of $1.43.

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.