Connect Biopharma Holdings Limited (NASDAQ:CNTB) Short Interest Down 35.4% in October

Connect Biopharma Holdings Limited (NASDAQ:CNTB) was the target of a large decrease in short interest in October. As of October 31st, there was short interest totalling 29,400 shares, a decrease of 35.4% from the October 15th total of 45,500 shares. Based on an average daily trading volume, of 29,500 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.1% of the company’s stock are sold short.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and set a $8.00 price objective on shares of Connect Biopharma in a research report on Friday, September 6th.

Institutional Investors Weigh In On Connect Biopharma

An institutional investor recently raised its position in Connect Biopharma stock. BML Capital Management LLC lifted its position in Connect Biopharma Holdings Limited (NASDAQ:CNTB) by 2.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,093,232 shares of the company’s stock after purchasing an additional 49,984 shares during the quarter. Connect Biopharma comprises 1.8% of BML Capital Management LLC’s holdings, making the stock its 13th largest position. BML Capital Management LLC owned approximately 3.79% of Connect Biopharma worth $3,014,000 at the end of the most recent quarter. 58.72% of the stock is owned by institutional investors.

Connect Biopharma Trading Down 1.5 %

Connect Biopharma stock traded down $0.02 during midday trading on Thursday, reaching $0.99. The company’s stock had a trading volume of 17,599 shares, compared to its average volume of 81,713. The stock’s 50-day simple moving average is $1.24 and its 200-day simple moving average is $1.35. Connect Biopharma has a 52-week low of $0.68 and a 52-week high of $2.84.

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.