Connect Biopharma Holdings Limited (NASDAQ:CNTB) Short Interest Down 35.4% in October

Connect Biopharma Holdings Limited (NASDAQ:CNTB) was the target of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 29,400 shares, a decline of 35.4% from the October 15th total of 45,500 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily volume of 29,500 shares, the days-to-cover ratio is presently 1.0 days.

Institutional Trading of Connect Biopharma

A hedge fund recently raised its stake in Connect Biopharma stock. BML Capital Management LLC boosted its stake in shares of Connect Biopharma Holdings Limited (NASDAQ:CNTB) by 2.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,093,232 shares of the company’s stock after buying an additional 49,984 shares during the period. Connect Biopharma makes up approximately 1.8% of BML Capital Management LLC’s holdings, making the stock its 13th largest holding. BML Capital Management LLC owned approximately 3.79% of Connect Biopharma worth $3,014,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 58.72% of the company’s stock.

Connect Biopharma Trading Down 1.5 %

CNTB stock traded down $0.02 during midday trading on Thursday, hitting $0.99. The company’s stock had a trading volume of 17,599 shares, compared to its average volume of 81,713. Connect Biopharma has a 12 month low of $0.68 and a 12 month high of $2.84. The company has a 50 day moving average of $1.24 and a two-hundred day moving average of $1.35.

Analyst Upgrades and Downgrades

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

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.