HC Wainwright Begins Coverage on Connect Biopharma (NASDAQ:CNTB)

HC Wainwright assumed coverage on shares of Connect Biopharma (NASDAQ:CNTB) in a research note issued on Thursday, MarketBeat reports. The firm set a “buy” rating and a $7.00 price target on the stock.

Connect Biopharma Price Performance

CNTB opened at $0.82 on Thursday. The business’s 50-day moving average price is $0.76 and its two-hundred day moving average price is $0.89. Connect Biopharma has a 1 year low of $0.51 and a 1 year high of $1.95.

Connect Biopharma (NASDAQ:CNTB) last announced its earnings results on Thursday, May 15th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.07. Equities analysts anticipate that Connect Biopharma will post -0.22 EPS for the current year.

Institutional Trading of Connect Biopharma

An institutional investor recently bought a new position in Connect Biopharma stock. Choreo LLC bought a new stake in Connect Biopharma Holdings Limited (NASDAQ:CNTB) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 160,867 shares of the company’s stock, valued at approximately $204,000. Choreo LLC owned approximately 0.29% of Connect Biopharma at the end of the most recent quarter. 58.72% of the stock is currently owned by institutional investors and hedge funds.

About Connect Biopharma

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.