Connect Biopharma Holdings Limited (NASDAQ:CNTB - Get Free Report) was the target of a significant drop in short interest during the month of April. As of April 30th, there was short interest totalling 31,200 shares, a drop of 62.5% from the April 15th total of 83,100 shares. Based on an average trading volume of 159,800 shares, the short-interest ratio is currently 0.2 days. Approximately 0.1% of the shares of the stock are short sold.
Institutional Trading of Connect Biopharma
A hedge fund recently raised its stake in Connect Biopharma stock. Keudell Morrison Wealth Management raised its position in shares of Connect Biopharma Holdings Limited (NASDAQ:CNTB - Free Report) by 75.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,700 shares of the company's stock after buying an additional 8,500 shares during the period. Keudell Morrison Wealth Management's holdings in Connect Biopharma were worth $34,000 at the end of the most recent reporting period. 58.72% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Separately, HC Wainwright upped their price objective on shares of Connect Biopharma from $7.00 to $8.00 and gave the company a "buy" rating in a research note on Wednesday, April 17th.
View Our Latest Research Report on CNTB
Connect Biopharma Trading Up 4.9 %
Shares of NASDAQ CNTB traded up $0.07 during midday trading on Friday, reaching $1.50. The company had a trading volume of 88,791 shares, compared to its average volume of 68,898. The firm's fifty day moving average price is $1.51 and its 200-day moving average price is $1.32. Connect Biopharma has a one year low of $0.53 and a one year high of $2.84.
Connect Biopharma Company Profile
(
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Connect Biopharma Holdings Limited, a clinical-stage biopharmaceutical company, focuses on developing therapies to treat 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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