Connect Biopharma (NASDAQ:CNTB) Stock Price Down 0.8% – What’s Next?

Connect Biopharma Holdings Limited (NASDAQ:CNTB)’s stock price dropped 0.8% during mid-day trading on Monday . The stock traded as low as $1.02 and last traded at $1.04. Approximately 36,122 shares traded hands during trading, an increase of 38% from the average daily volume of 26,181 shares. The stock had previously closed at $1.04.

Connect Biopharma Trading Up 1.4 %

The company has a fifty day moving average of $1.08 and a 200-day moving average of $1.18.

Institutional Investors Weigh In On Connect Biopharma

An institutional investor recently raised its position in Connect Biopharma stock. BML Capital Management LLC lifted its holdings in shares of Connect Biopharma Holdings Limited (NASDAQ:CNTB) by 2.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,093,232 shares of the company’s stock after buying an additional 49,984 shares during the quarter. Connect Biopharma comprises 1.8% of BML Capital Management LLC’s investment portfolio, making the stock its 13th biggest position. BML Capital Management LLC owned about 3.79% of Connect Biopharma worth $3,014,000 as of its most recent SEC filing. 58.72% of the stock is owned by hedge funds and other institutional investors.

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.