Short Interest in Connect Biopharma Holdings Limited (NASDAQ:CNTB) Increases By 7.5%

Connect Biopharma Holdings Limited (NASDAQ:CNTB) was the target of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 115,500 shares, an increase of 7.5% from the March 15th total of 107,400 shares. Based on an average trading volume of 158,600 shares, the short-interest ratio is currently 0.7 days. Approximately 0.2% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright began coverage on shares of Connect Biopharma in a research note on Monday, March 4th. They issued a “buy” rating and a $7.00 price objective on the stock.

Connect Biopharma Stock Up 1.8 %

Shares of CNTB stock opened at $1.70 on Wednesday. Connect Biopharma has a one year low of $0.53 and a one year high of $2.84. The stock has a fifty day moving average price of $1.42 and a 200 day moving average price of $1.26.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vident Investment Advisory LLC bought a new position in Connect Biopharma in the first quarter worth $55,000. Woodline Partners LP bought a new position in Connect Biopharma in the first quarter worth $132,000. Invesco Ltd. lifted its position in Connect Biopharma by 135.9% in the first quarter. Invesco Ltd. now owns 60,449 shares of the company’s stock worth $183,000 after purchasing an additional 34,820 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Connect Biopharma by 184.7% during the second quarter. Renaissance Technologies LLC now owns 66,900 shares of the company’s stock valued at $58,000 after acquiring an additional 43,400 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Connect Biopharma by 1,312.7% in the 1st quarter. JPMorgan Chase & Co. now owns 78,547 shares of the company’s stock valued at $79,000 after purchasing an additional 72,987 shares in the last quarter. 58.72% of the stock is owned by institutional investors.

Connect Biopharma Company Profile

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.