Connect Biopharma Holdings Limited Sponsored ADR (NASDAQ:CNTB) Receives $8.67 Average Price Target from Analysts

by · The Markets Daily

Shares of Connect Biopharma Holdings Limited Sponsored ADR (NASDAQ:CNTB – Get Free Report) have been given an average recommendation of “Moderate Buy” by the five ratings firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $8.6667.

A number of brokerages recently issued reports on CNTB. Lake Street Capital began coverage on shares of Connect Biopharma in a research report on Monday, December 1st. They set a “buy” rating and a $9.00 target price for the company. Wall Street Zen upgraded shares of Connect Biopharma to a “hold” rating in a research report on Saturday, December 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Connect Biopharma in a report on Wednesday, January 21st.

Read Our Latest Stock Report on Connect Biopharma

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CNTB. AlphaCore Capital LLC bought a new stake in Connect Biopharma in the second quarter valued at approximately $78,000. XTX Topco Ltd acquired a new stake in shares of Connect Biopharma during the second quarter worth about $29,000. SmartHarvest Portfolios LLC bought a new position in shares of Connect Biopharma during the 4th quarter valued at about $36,000. Richmond Brothers Inc. bought a new position in shares of Connect Biopharma during the 4th quarter valued at about $489,000. Finally, Knott David M Jr acquired a new position in shares of Connect Biopharma in the 4th quarter valued at approximately $564,000. Institutional investors own 58.72% of the company’s stock.

Connect Biopharma Stock Down 3.9%

Shares of Connect Biopharma stock opened at $2.69 on Wednesday. The company has a quick ratio of 5.48, a current ratio of 5.48 and a debt-to-equity ratio of 0.01. The stock has a 50 day moving average price of $2.51 and a two-hundred day moving average price of $2.20. The stock has a market capitalization of $150.37 million, a P/E ratio of -3.68 and a beta of -0.20. Connect Biopharma has a 12-month low of $0.51 and a 12-month high of $3.28.

Connect Biopharma Company Profile

(Get Free Report)

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.

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