Connect Biopharma Holdings Limited (NASDAQ:CNTB) Short Interest Up 7.5% in March

Connect Biopharma Holdings Limited (NASDAQ:CNTB) saw a significant growth in short interest in March. As of March 31st, there was short interest totalling 115,500 shares, a growth of 7.5% from the March 15th total of 107,400 shares. Based on an average daily volume of 158,600 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.2% of the shares of the stock are sold short.

Connect Biopharma Stock Up 1.8 %

NASDAQ CNTB opened at $1.70 on Wednesday. Connect Biopharma has a 1-year low of $0.53 and a 1-year high of $2.84. The stock’s 50 day moving average is $1.42 and its two-hundred day moving average is $1.26.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CNTB. Vident Investment Advisory LLC bought a new position in shares of Connect Biopharma in the first quarter valued at approximately $55,000. Renaissance Technologies LLC increased its position in Connect Biopharma by 184.7% in the 2nd 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 in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Connect Biopharma by 1,312.7% in the first quarter. JPMorgan Chase & Co. now owns 78,547 shares of the company’s stock worth $79,000 after acquiring an additional 72,987 shares during the last quarter. UBS Group AG lifted its position in shares of Connect Biopharma by 5,552.1% during the second quarter. UBS Group AG now owns 105,185 shares of the company’s stock worth $91,000 after purchasing an additional 103,324 shares in the last quarter. Finally, Woodline Partners LP bought a new stake in shares of Connect Biopharma during the first quarter valued at approximately $132,000. Institutional investors own 58.72% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, HC Wainwright assumed coverage on Connect Biopharma in a report on Monday, March 4th. They set a “buy” rating and a $7.00 price objective on the stock.

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.