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

Connect Biopharma Holdings Limited (NASDAQ:CNTB) saw a significant decline in short interest in June. As of June 15th, there was short interest totalling 27,800 shares, a decline of 21.5% from the May 31st total of 35,400 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average trading volume of 114,100 shares, the short-interest ratio is presently 0.2 days.

Institutional Trading of Connect Biopharma

A hedge fund recently raised its stake in Connect Biopharma stock. Keudell Morrison Wealth Management boosted its stake in shares of Connect Biopharma Holdings Limited (NASDAQ:CNTB) by 75.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,700 shares of the company’s stock after purchasing an additional 8,500 shares during the quarter. Keudell Morrison Wealth Management’s holdings in Connect Biopharma were worth $34,000 at the end of the most recent quarter. 58.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and issued a $8.00 target price on shares of Connect Biopharma in a research report on Thursday, June 13th.

Connect Biopharma Price Performance

Shares of Connect Biopharma stock traded down $0.08 on Monday, reaching $1.44. The stock had a trading volume of 27,978 shares, compared to its average volume of 123,312. The business’s 50-day moving average price is $1.58 and its two-hundred day moving average price is $1.39. Connect Biopharma has a fifty-two week low of $0.53 and a fifty-two week high of $2.84.

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.