Connect Biopharma Holdings Limited (NASDAQ:CNTB) Short Interest Update

Connect Biopharma Holdings Limited (NASDAQ:CNTB) was the target of a large increase in short interest during the month of 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 trading volume, of 42,600 shares, the short-interest ratio is presently 0.5 days. Approximately 0.0% of the shares of the company are short sold.

Connect Biopharma Price Performance

CNTB stock opened at $1.40 on Wednesday. Connect Biopharma has a 12 month low of $0.68 and a 12 month high of $2.84. The firm has a 50 day simple moving average of $1.21 and a 200 day simple moving average of $1.43.

Institutional Investors Weigh In On Connect Biopharma

An institutional investor recently raised its position in Connect Biopharma stock. Keudell Morrison Wealth Management lifted its position in Connect Biopharma Holdings Limited (NASDAQ:CNTB) by 75.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,700 shares of the company’s stock after acquiring an additional 8,500 shares during the quarter. Keudell Morrison Wealth Management’s holdings in Connect Biopharma were worth $34,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 58.72% of the company’s stock.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and issued a $8.00 target price on shares of Connect Biopharma in a research report 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.