Short Interest in Connect Biopharma Holdings Limited (NASDAQ:CNTB) Grows By 56.7%

Connect Biopharma Holdings Limited (NASDAQ:CNTB) was the recipient of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 46,700 shares, a growth of 56.7% from the February 13th total of 29,800 shares. Based on an average daily volume of 24,400 shares, the days-to-cover ratio is presently 1.9 days. Currently, 0.1% of the company’s shares are sold short.

Hedge Funds Weigh In On Connect Biopharma

Several institutional investors have recently added to or reduced their stakes in the business. Choreo LLC acquired a new position in Connect Biopharma in the fourth quarter valued at $204,000. Callan Capital LLC increased its stake in Connect Biopharma by 91.3% in the fourth quarter. Callan Capital LLC now owns 80,000 shares of the company’s stock valued at $110,000 after purchasing an additional 38,177 shares during the last quarter. Finally, Catalina Capital Group LLC acquired a new position in Connect Biopharma in the fourth quarter valued at $66,000. 58.72% of the stock is currently owned by institutional investors and hedge funds.

Connect Biopharma Stock Performance

Connect Biopharma stock traded up $0.01 during trading on Friday, hitting $0.86. The company’s stock had a trading volume of 10,103 shares, compared to its average volume of 18,194. The stock’s fifty day moving average is $0.96 and its 200 day moving average is $1.11. Connect Biopharma has a 1-year low of $0.77 and a 1-year high of $2.66.

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.