Short Interest in Connect Biopharma Holdings Limited (NASDAQ:CNTB) Rises By 53.5%

Connect Biopharma Holdings Limited (NASDAQ:CNTB - Get Free Report) was the target of a significant growth in short interest during the month of 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. Approximately 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 28,200 shares, the short-interest ratio is presently 3.1 days.

Hedge Funds Weigh In On Connect Biopharma

A hedge fund recently raised its stake in Connect Biopharma stock. BML Capital Management LLC lifted its position in shares of Connect Biopharma Holdings Limited (NASDAQ:CNTB - Free Report) by 2.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,093,232 shares of the company's stock after acquiring an additional 49,984 shares during the quarter. Connect Biopharma accounts for approximately 1.8% of BML Capital Management LLC's portfolio, making the stock its 13th largest holding. 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 own 58.72% of the company's stock.

Analyst Ratings Changes

Separately, HC Wainwright reissued a "buy" rating and set a $8.00 price target on shares of Connect Biopharma in a report on Friday, September 6th.

Connect Biopharma Trading Up 17.5 %

Shares of NASDAQ:CNTB traded up $0.17 during trading on Friday, reaching $1.14. The company had a trading volume of 81,458 shares, compared to its average volume of 75,617. Connect Biopharma has a fifty-two week low of $0.90 and a fifty-two week high of $2.66. The stock's fifty day moving average price is $1.09 and its 200 day moving average price is $1.21.

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.