Connect Biopharma Holdings Limited (NASDAQ:CNTB) Sees Significant Drop in Short Interest

Connect Biopharma Holdings Limited (NASDAQ:CNTB) was the recipient of a significant drop in short interest in March. As of March 15th, there was short interest totalling 10,300 shares, a drop of 77.9% from the February 28th total of 46,700 shares. Based on an average daily volume of 20,500 shares, the short-interest ratio is currently 0.5 days. Approximately 0.0% of the company’s stock are short sold.

Institutional Inflows and Outflows

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

Connect Biopharma Price Performance

Shares of CNTB stock opened at $0.78 on Thursday. The company’s 50 day moving average is $0.91 and its 200 day moving average is $1.08. Connect Biopharma has a 52-week low of $0.77 and a 52-week high of $2.66.

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.