Chemomab Therapeutics Ltd. (NASDAQ:CMMB) Sees Significant Increase in Short Interest

Chemomab Therapeutics Ltd. (NASDAQ:CMMB) was the target of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 389,900 shares, an increase of 1,230.7% from the February 13th total of 29,300 shares. Based on an average trading volume of 336,300 shares, the days-to-cover ratio is presently 1.2 days. Currently, 2.4% of the shares of the company are short sold.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Sphera Funds Management LTD. bought a new stake in Chemomab Therapeutics in the 3rd quarter valued at about $1,907,000. XTX Topco Ltd grew its stake in shares of Chemomab Therapeutics by 63.8% in the 4th quarter. XTX Topco Ltd now owns 24,929 shares of the company’s stock worth $45,000 after purchasing an additional 9,706 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Chemomab Therapeutics in the 4th quarter worth approximately $26,000. 46.05% of the stock is owned by institutional investors and hedge funds.

Chemomab Therapeutics Stock Up 4.4 %

Chemomab Therapeutics stock opened at $1.42 on Thursday. Chemomab Therapeutics has a 52-week low of $0.58 and a 52-week high of $2.55. The firm has a fifty day moving average of $1.90 and a 200-day moving average of $1.75. The firm has a market capitalization of $20.39 million, a P/E ratio of -1.42 and a beta of 0.54.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CMMB. Maxim Group boosted their price target on shares of Chemomab Therapeutics from $4.00 to $7.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Oppenheimer reissued an “outperform” rating and set a $11.00 price objective (down previously from $13.00) on shares of Chemomab Therapeutics in a research note on Friday, November 15th.

About Chemomab Therapeutics

Chemomab Therapeutics Ltd., a clinical-stage biotechnology company, discovers and develops therapeutics for the treatment of fibrotic and inflammatory diseases. The company's lead clinical product candidate is CM-101, a humanized monoclonal antibody had completed Phase 2a clinical trials that hinders the basic function of soluble chemokine CCL24 for the treatment of primary sclerosing cholangitis (PSC) and systemic sclerosis (SSc).