Connect Biopharma Holdings Limited Sponsored ADR (NASDAQ:CNTB) Given Average Rating of “Moderate Buy” by Brokerages

Connect Biopharma Holdings Limited Sponsored ADR (NASDAQ:CNTB) has been given a consensus rating of “Moderate Buy” by the eight research firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $7.4286.

Several equities research analysts have issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of Connect Biopharma in a research report on Thursday, June 25th. Canaccord Genuity Group set a $7.00 price target on shares of Connect Biopharma in a report on Friday, August 14th. Wall Street Zen raised Connect Biopharma from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Piper Sandler started coverage on shares of Connect Biopharma in a research note on Friday, June 26th. They set an “overweight” rating and a $7.00 price target on the stock. Finally, Cantor Fitzgerald assumed coverage on Connect Biopharma in a research report on Thursday, May 21st. They set an “overweight” rating and a $4.00 price target for the company.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new position in shares of Connect Biopharma during the 2nd quarter valued at approximately $29,000. SmartHarvest Portfolios LLC acquired a new stake in shares of Connect Biopharma in the fourth quarter worth approximately $36,000. Bank of America Corp DE purchased a new position in Connect Biopharma in the 1st quarter valued at $41,000. HRT Financial LP lifted its holdings in Connect Biopharma by 60.5% in the 4th quarter. HRT Financial LP now owns 16,785 shares of the company’s stock valued at $47,000 after purchasing an additional 6,328 shares in the last quarter. Finally, Persistent Asset Partners Ltd acquired a new stake in Connect Biopharma during the 4th quarter worth $76,000. 58.72% of the stock is currently owned by hedge funds and other institutional investors.

Connect Biopharma Stock Up 3.8%

NASDAQ CNTB opened at $1.91 on Wednesday. The company has a fifty day moving average of $2.26 and a two-hundred day moving average of $2.44. The firm has a market capitalization of $120.28 million, a price-to-earnings ratio of -1.61 and a beta of -0.23. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 0.01. Connect Biopharma has a 52 week low of $1.23 and a 52 week high of $3.82.

Connect Biopharma (NASDAQ:CNTB) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.04. The firm had revenue of $2.75 million for the quarter, compared to the consensus estimate of $0.74 million. On average, analysts predict that Connect Biopharma will post -1.1 earnings per share for the current year.

Connect Biopharma Company Profile

Connect Biopharma Holdings Ltd. is a clinical-stage biopharmaceutical company focused on the discovery and development of monoclonal antibody therapies for immune-mediated disorders. Headquartered in Singapore with a research and commercial presence in the United States, the company applies proprietary technology platforms to target novel pathways in inflammatory and autoimmune diseases.

The company’s lead product candidate, CBP-201, is a fully human monoclonal antibody that antagonizes the interleukin-31 receptor, a key mediator of chronic pruritus in conditions such as atopic dermatitis and prurigo nodularis.