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

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

Connect Biopharma Stock Down 0.8 %

The stock has a 50 day moving average price of $1.08 and a two-hundred day moving average price of $1.18.

Hedge Funds Weigh In On Connect Biopharma

A hedge fund recently raised its stake in Connect Biopharma stock. BML Capital Management LLC lifted its stake in Connect Biopharma Holdings Limited (NASDAQ:CNTB) by 2.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,093,232 shares of the company’s stock after purchasing an additional 49,984 shares during the period. Connect Biopharma accounts for 1.8% of BML Capital Management LLC’s portfolio, making the stock its 13th largest position. BML Capital Management LLC owned 3.79% of Connect Biopharma worth $3,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 58.72% of the stock is currently owned by 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.