Connect Biopharma Holdings Limited Sponsored ADR (NASDAQ:CNTB - Get Free Report) was the recipient of a large increase in short interest in the month of July. As of July 15th, there was short interest totaling 59,900 shares, anincreaseof110.9% from the June 30th total of 28,400 shares. Based on an average daily trading volume, of 135,600 shares, the short-interest ratio is currently 0.4 days. Based on an average daily trading volume, of 135,600 shares, the short-interest ratio is currently 0.4 days.
Hedge Funds Weigh In On Connect Biopharma
A hedge fund recently bought a new stake in Connect Biopharma stock. Koa Wealth Management LLC purchased a new position in shares of Connect Biopharma Holdings Limited Sponsored ADR (NASDAQ:CNTB - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 49,600 shares of the company's stock, valued at approximately $49,000. Koa Wealth Management LLC owned about 0.09% of Connect Biopharma at the end of the most recent reporting period. 58.72% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on CNTB shares. HC Wainwright started coverage on shares of Connect Biopharma in a report on Thursday, June 12th. They set a "buy" rating and a $7.00 target price on the stock. Northland Capmk upgraded Connect Biopharma to a "strong-buy" rating in a research note on Tuesday, July 22nd.
View Our Latest Stock Analysis on Connect Biopharma
Connect Biopharma Trading Up 2.0%
CNTB stock opened at $2.04 on Tuesday. Connect Biopharma has a 1 year low of $0.51 and a 1 year high of $2.86. The company has a quick ratio of 10.25, a current ratio of 10.25 and a debt-to-equity ratio of 0.01. The business's 50-day moving average is $1.28 and its two-hundred day moving average is $0.98.
Connect Biopharma (NASDAQ:CNTB - Get Free Report) last issued its earnings results on Thursday, May 15th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.07. On average, equities research analysts anticipate that Connect Biopharma will post -0.22 EPS for the current fiscal year.
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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