Connect Biopharma Holdings Limited Sponsored ADR $CNTB Stock Holdings Increased by BML Capital Management LLC

BML Capital Management LLC lifted its holdings in Connect Biopharma Holdings Limited Sponsored ADR (NASDAQ:CNTB) by 574.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,864,400 shares of the company’s stock after buying an additional 3,291,113 shares during the quarter. Connect Biopharma makes up about 2.3% of BML Capital Management LLC’s holdings, making the stock its 12th biggest holding. BML Capital Management LLC owned 6.14% of Connect Biopharma worth $4,251,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ADAR1 Capital Management LLC purchased a new position in Connect Biopharma during the 1st quarter valued at about $1,945,000. Knott David M Jr grew its holdings in Connect Biopharma by 93.9% in the first quarter. Knott David M Jr now owns 387,835 shares of the company’s stock worth $1,016,000 after purchasing an additional 187,835 shares during the period. Finally, Bank of America Corp DE purchased a new stake in Connect Biopharma in the first quarter worth about $41,000. 58.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CNTB. Oppenheimer lowered their target price on shares of Connect Biopharma to $5.00 and set an “outperform” rating for the company in a report on Tuesday, September 22nd. Wall Street Zen downgraded Connect Biopharma from a “hold” rating to a “sell” rating in a research note on Saturday, October 31st. Leerink Partners began coverage on Connect Biopharma in a research note on Monday, October 12th. They issued an “outperform” rating and a $4.00 price target on the stock. Weiss Ratings lowered Connect Biopharma from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, October 21st. Finally, Canaccord Genuity Group lowered their price objective on Connect Biopharma from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday, September 16th. Eight research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Connect Biopharma currently has an average rating of “Moderate Buy” and a consensus target price of $5.88.

Connect Biopharma Stock Up 1.8%

NASDAQ:CNTB opened at $0.68 on Friday. The firm has a market cap of $42.64 million, a P/E ratio of -0.57 and a beta of 0.06. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.37 and a current ratio of 2.37. Connect Biopharma Holdings Limited Sponsored ADR has a fifty-two week low of $0.64 and a fifty-two week high of $3.82. The firm has a 50-day simple moving average of $1.04 and a two-hundred day simple moving average of $2.11.

Connect Biopharma (NASDAQ:CNTB) last issued its earnings results on Wednesday, August 12th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.04. The firm had revenue of $2.75 million during the quarter, compared to analysts’ expectations of $0.74 million. Analysts predict that Connect Biopharma Holdings Limited Sponsored ADR will post -1.09 earnings per share for the current fiscal year.

Connect Biopharma Profile

Connect Biopharma is a biopharmaceutical company focused on developing treatments for inflammatory diseases, particularly conditions driven by T cells. The company has operated in the United States and China and has advanced its drug candidates through clinical development. Its lead candidate, rademikibart (formerly CBP-201), is an investigational antibody that targets the interleukin-4 receptor alpha pathway, which is involved in allergic inflammation. It has been studied for conditions including atopic dermatitis and asthma.