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

Connect Biopharma Holdings Limited (NASDAQ:CNTB) was the target of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 46,700 shares, a growth of 56.7% from the February 13th total of 29,800 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average trading volume of 24,400 shares, the days-to-cover ratio is presently 1.9 days.

Connect Biopharma Stock Performance

Shares of CNTB traded up $0.01 during trading hours on Friday, reaching $0.86. 10,103 shares of the company’s stock traded hands, compared to its average volume of 18,194. The firm’s 50 day simple moving average is $0.96 and its 200-day simple moving average is $1.11. Connect Biopharma has a 12 month low of $0.77 and a 12 month high of $2.66.

Institutional Trading of Connect Biopharma

Several institutional investors and hedge funds have recently made changes to their positions in CNTB. Catalina Capital Group LLC purchased a new position in shares of Connect Biopharma during the fourth quarter worth approximately $66,000. Choreo LLC purchased a new position in shares of Connect Biopharma in the fourth quarter worth about $204,000. Finally, Callan Capital LLC lifted its stake in shares of Connect Biopharma by 91.3% in the 4th quarter. Callan Capital LLC now owns 80,000 shares of the company’s stock valued at $110,000 after acquiring an additional 38,177 shares during the last quarter. Hedge funds and other institutional investors own 58.72% of the company’s stock.

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.