Connect Biopharma Holdings Limited (NASDAQ:CNTB - Get Free Report) was the recipient of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 45,500 shares, a growth of 26.7% from the September 30th total of 35,900 shares. Currently, 0.1% of the company's stock are sold short. Based on an average trading volume of 27,300 shares, the days-to-cover ratio is presently 1.7 days.
Wall Street Analyst Weigh In
Separately, HC Wainwright reiterated a "buy" rating and issued a $8.00 target price on shares of Connect Biopharma in a report on Friday, September 6th.
View Our Latest Stock Report on CNTB
Institutional Inflows and Outflows
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 - Free Report) by 75.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,700 shares of the company's stock after buying 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. 58.72% of the stock is owned by institutional investors.
Connect Biopharma Trading Down 2.5 %
Shares of NASDAQ:CNTB traded down $0.03 during trading on Wednesday, reaching $1.17. 15,601 shares of the company traded hands, compared to its average volume of 84,022. The firm has a fifty day simple moving average of $1.26 and a 200 day simple moving average of $1.37. Connect Biopharma has a 1-year low of $0.68 and a 1-year high of $2.84.
About Connect Biopharma
(
Get Free Report)
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.
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