Connect Biopharma Holdings Limited (NASDAQ:CNTB) Brief Update on Interests


Connect Biopharma Holdings Limited (NASDAQ:CNTB – Get Rating) was the target of a sharp decline in short-term interest in May. As of May 15, there was short interest totaling 183,100 shares, down 42.5% from the April 30 total of 318,400 shares. Based on an average daily trading volume of 244,800 shares, the day-to-cover ratio is currently 0.7 days.

A number of equity research analysts have weighed in on CNTB shares. Zacks Investment Research downgraded Connect Biopharma from a “buy” rating to a “hold” rating in a Wednesday, April 6 research report. Piper Sandler downgraded Connect Biopharma from an “overweight” rating to a “neutral” rating in a Thursday, May 5 research report. Finally, SVB Leerink began covering Connect Biopharma in a research report on Friday, April 1. They issued a “buy” rating and a target price of $22.00 for the company.

NASDAQ:CNTB shares rose $0.04 on Friday, hitting $0.85. 90,993 shares of the company were traded, with an average volume of 658,303. Connect Biopharma has a fifty-two week low of $0.56 and a fifty-two week high of $29.27. The company’s 50-day moving average is $2.11 and its 200-day moving average is $4.01.

Several large investors have recently changed their positions in the CNTB. Janus Henderson Group PLC increased its equity stake in Connect Biopharma by 3.1% in the third quarter. Janus Henderson Group PLC now owns 403,459 shares of the company valued at $9,567,000 after buying an additional 12,120 shares last quarter. Vident Investment Advisory LLC purchased a new stake in shares of Connect Biopharma in the third quarter at a value of $263,000. Goldman Sachs Group Inc. purchased a new equity stake in Connect Biopharma in the fourth quarter at a value of $61,000. Renaissance Technologies LLC purchased a new stake in shares of Connect Biopharma in the fourth quarter at a value of $56,000. Finally, Kynam Capital Management LP acquired a new position in shares of Connect Biopharma in the first quarter at a value of $688,000. Institutional investors hold 34.21% of the company’s shares.

About Connect Biopharma (Get an assessment)

Connect Biopharma Holdings Limited, a clinical-stage biopharmaceutical company, is focused on the discovery and development of immune modulators for the treatment of serious autoimmune diseases and inflammation. The Company’s lead product candidate is CBP-201, an anti-interleukin-4 receptor alpha antibody, which is in a Phase IIb clinical trial for the treatment of inflammatory allergic diseases, such as atopic dermatitis, asthma and chronic rhinosinusitis with nasal polyps.

Further reading



Get news and reviews for Connect Biopharma Daily – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for Connect Biopharma and related companies with MarketBeat.com’s free daily email newsletter.

Comments are closed.