Connect Biopharma Holdings Limited (NASDAQ:CNTB) Short Interest Up 53.5% in December

Connect Biopharma Holdings Limited (NASDAQ:CNTB) saw a significant growth in short interest in December. As of December 15th, there was short interest totalling 87,800 shares, a growth of 53.5% from the November 30th total of 57,200 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average trading volume of 28,200 shares, the short-interest ratio is currently 3.1 days.

Institutional Trading of Connect Biopharma

A hedge fund recently raised its stake in Connect Biopharma stock. BML Capital Management LLC increased its holdings in Connect Biopharma Holdings Limited (NASDAQ:CNTB) by 2.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,093,232 shares of the company’s stock after purchasing an additional 49,984 shares during the period. 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 about 3.79% of Connect Biopharma worth $3,014,000 at the end of the most recent quarter. Institutional investors and hedge funds own 58.72% of the company’s stock.

Connect Biopharma Price Performance

Shares of Connect Biopharma stock opened at $1.14 on Friday. The stock has a 50 day moving average of $1.09 and a 200 day moving average of $1.22. Connect Biopharma has a 12 month low of $0.90 and a 12 month high of $2.66.

Wall Street Analysts Forecast Growth

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

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.