Connect Biopharma Holdings Limited (NASDAQ:CNTB) Short Interest Down 7.4% in November

Connect Biopharma Holdings Limited (NASDAQ:CNTB) was the recipient of a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 57,200 shares, a decline of 7.4% from the November 15th total of 61,800 shares. Based on an average daily trading volume, of 26,600 shares, the days-to-cover ratio is currently 2.2 days. Currently, 0.1% of the company’s stock are sold short.

Connect Biopharma Trading Down 2.5 %

CNTB stock traded down $0.03 during midday trading on Monday, reaching $1.09. The stock had a trading volume of 35,301 shares, compared to its average volume of 77,326. Connect Biopharma has a 52-week low of $0.77 and a 52-week high of $2.66. The company’s fifty day simple moving average is $1.14 and its 200 day simple moving average is $1.26.

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 note on Friday, September 6th.

Hedge Funds Weigh In On Connect Biopharma

A hedge fund recently raised its stake in Connect Biopharma stock. BML Capital Management LLC increased its position in shares of Connect Biopharma Holdings Limited (NASDAQ:CNTB) by 2.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,093,232 shares of the company’s stock after acquiring an additional 49,984 shares during the period. Connect Biopharma comprises 1.8% of BML Capital Management LLC’s investment portfolio, making the stock its 13th biggest 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.

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.