Connect Biopharma (NASDAQ:CNTB) Shares Down 0.8% – Should You Sell?

Connect Biopharma Holdings Limited (NASDAQ:CNTB)’s stock price traded down 0.8% during trading on Monday . The company traded as low as $1.02 and last traded at $1.04. 36,122 shares changed hands during trading, an increase of 38% from the average session volume of 26,181 shares. The stock had previously closed at $1.04.

Connect Biopharma Trading Down 0.8 %

The firm’s 50-day moving average price is $1.08 and its two-hundred day moving average price is $1.18.

Institutional Investors Weigh In On Connect Biopharma

A hedge fund recently raised its stake in Connect Biopharma stock. BML Capital Management LLC boosted its stake in Connect Biopharma Holdings Limited (NASDAQ:CNTB) by 2.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,093,232 shares of the company’s stock after buying an additional 49,984 shares during the quarter. Connect Biopharma makes up about 1.8% of BML Capital Management LLC’s investment portfolio, making the stock its 13th largest position. BML Capital Management LLC owned 3.79% of Connect Biopharma worth $3,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 58.72% of the stock is owned by institutional investors and hedge funds.

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.