Connect Biopharma Holdings Limited (NASDAQ:CNTB) Short Interest Down 34.6% in May

Connect Biopharma Holdings Limited (NASDAQ:CNTB) saw a large decrease in short interest in May. As of May 31st, there was short interest totalling 35,400 shares, a decrease of 34.6% from the May 15th total of 54,100 shares. Based on an average daily volume of 118,800 shares, the short-interest ratio is presently 0.3 days. Approximately 0.1% of the company’s shares are sold short.

Connect Biopharma Stock Down 4.8 %

NASDAQ CNTB traded down $0.08 on Friday, hitting $1.60. 26,214 shares of the company were exchanged, compared to its average volume of 53,581. Connect Biopharma has a 12 month low of $0.53 and a 12 month high of $2.84. The stock has a fifty day moving average of $1.64 and a 200-day moving average of $1.35.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and set a $8.00 target price on shares of Connect Biopharma in a research note on Thursday.

Hedge Funds Weigh In On Connect Biopharma

A hedge fund recently raised its stake in Connect Biopharma stock. Keudell Morrison Wealth Management boosted its position in Connect Biopharma Holdings Limited (NASDAQ:CNTB) by 75.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,700 shares of the company’s stock after acquiring an additional 8,500 shares during the period. Keudell Morrison Wealth Management’s holdings in Connect Biopharma were worth $34,000 as of its most recent SEC filing. 58.72% of the stock is currently owned by hedge funds and other institutional investors.

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.