Brokerages Set Connect Biopharma Holdings Limited Sponsored ADR (NASDAQ:CNTB) Price Target at $8.67

by · The Cerbat Gem

Shares of Connect Biopharma Holdings Limited Sponsored ADR (NASDAQ:CNTB – Get Free Report) have been assigned an average recommendation of “Moderate Buy” from the five brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $8.6667.

Several research firms have recently commented on CNTB. Wall Street Zen raised Connect Biopharma to a “hold” rating in a research note on Saturday, December 20th. BTIG Research restated a “buy” rating and set a $10.00 target price on shares of Connect Biopharma in a research note on Thursday, November 13th. Lake Street Capital began coverage on shares of Connect Biopharma in a report on Monday, December 1st. They set a “buy” rating and a $9.00 price target on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Connect Biopharma in a research note on Wednesday, October 8th.

Get Our Latest Analysis on CNTB

Hedge Funds Weigh In On Connect Biopharma

Large investors have recently made changes to their positions in the business. AlphaCore Capital LLC bought a new position in shares of Connect Biopharma in the second quarter worth about $78,000. Koa Wealth Management LLC bought a new position in Connect Biopharma in the 2nd quarter worth approximately $49,000. Finally, XTX Topco Ltd bought a new position in Connect Biopharma in the 2nd quarter worth approximately $29,000. 58.72% of the stock is currently owned by hedge funds and other institutional investors.

Connect Biopharma Stock Down 1.5%

CNTB opened at $2.69 on Friday. The firm’s 50 day simple moving average is $2.23 and its two-hundred day simple moving average is $1.85. The company has a market capitalization of $150.37 million, a PE ratio of -3.68 and a beta of -0.20. Connect Biopharma has a 1-year low of $0.51 and a 1-year high of $3.28. The company has a current ratio of 5.48, a quick ratio of 5.48 and a debt-to-equity ratio of 0.01.

Connect Biopharma (NASDAQ:CNTB – Get Free Report) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.07). As a group, equities analysts forecast that Connect Biopharma will post -0.22 EPS for the current year.

About Connect Biopharma

(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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