Connect Biopharma Holdings Limited Sponsored ADR (NASDAQ:CNTB - Get Free Report) was the target of a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 33,600 shares, adropof43.9% from the July 15th total of 59,900 shares. Approximately0.1% of the shares of the stock are sold short. Based on an average trading volume of 149,400 shares, the days-to-cover ratio is currently 0.2 days. Based on an average trading volume of 149,400 shares, the days-to-cover ratio is currently 0.2 days. Approximately0.1% of the shares of the stock are sold short.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in CNTB. Koa Wealth Management LLC purchased a new position in shares of Connect Biopharma during the second quarter valued at about $49,000. AlphaCore Capital LLC purchased a new position in shares of Connect Biopharma during the second quarter valued at about $78,000. Finally, XTX Topco Ltd purchased a new position in Connect Biopharma in the second quarter worth about $29,000. Hedge funds and other institutional investors own 58.72% of the company's stock.
Analyst Ratings Changes
CNTB has been the topic of a number of recent analyst reports. HC Wainwright reissued a "buy" rating and set a $7.00 price target on shares of Connect Biopharma in a report on Wednesday, August 13th. Wall Street Zen raised Connect Biopharma to a "hold" rating in a report on Friday. Finally, Northland Capmk raised Connect Biopharma to a "strong-buy" rating in a report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Strong Buy" and a consensus target price of $7.00.
Get Our Latest Stock Report on CNTB
Connect Biopharma Stock Performance
Shares of Connect Biopharma stock traded up $0.10 during trading on Friday, reaching $1.83. 121,848 shares of the stock traded hands, compared to its average volume of 159,527. The business has a fifty day simple moving average of $1.62 and a two-hundred day simple moving average of $1.08. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.01. Connect Biopharma has a 52-week low of $0.51 and a 52-week high of $2.86.
Connect Biopharma Company Profile
(
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.
Featured Articles
Before you consider Connect Biopharma, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Connect Biopharma wasn't on the list.
While Connect Biopharma currently has a Strong Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
We are about to experience the greatest A.I. boom in stock market history...
Thanks to a pivotal economic catalyst, specific tech stocks will skyrocket just like they did during the "dot com" boom in the 1990s.
That’s why, we’ve hand-selected 7 tiny tech disruptor stocks positioned to surge.
- The first pick is a tiny under-the-radar A.I. stock that's trading for just $3.00. This company already has 98 registered patents for cutting-edge voice and sound recognition technology... And has lined up major partnerships with some of the biggest names in the auto, tech, and music industry... plus many more.
- The second pick presents an affordable avenue to bolster EVs and AI development…. Analysts are calling this stock a “buy” right now and predict a high price target of $19.20, substantially more than its current $6 trading price.
- Our final and favorite pick is generating a brand-new kind of AI. It's believed this tech will be bigger than the current well-known leader in this industry… Analysts predict this innovative tech is gearing up to create a tidal wave of new wealth, fueling a $15.7 TRILLION market boom.
Right now, we’re staring down the barrel of a true once-in-a-lifetime moment. As an investment opportunity, this kind of breakthrough doesn't come along every day.
And the window to get in on the ground-floor — maximizing profit potential from this expected market surge — is closing quickly...
Simply enter your email below to get the names and tickers of the 7 small stocks with potential to make investors very, very happy.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access