Connect Biopharma (NASDAQ:CNTB) Stock Rating Lowered by Piper Sandler

Connect Biopharma (NASDAQ:CNTBGet Rating) was downgraded by Piper Sandler from an “overweight” rating to a “neutral” rating in a report issued on Thursday, The Fly reports.

A number of other research firms also recently issued reports on CNTB. Zacks Investment Research downgraded shares of Connect Biopharma from a “buy” rating to a “hold” rating in a research report on Wednesday, April 6th. SVB Leerink began coverage on shares of Connect Biopharma in a research report on Friday, April 1st. They issued a “buy” rating and a $22.00 price target on the stock.

NASDAQ CNTB opened at $0.82 on Thursday. Connect Biopharma has a 12 month low of $0.78 and a 12 month high of $29.27. The company’s fifty day moving average price is $3.11 and its two-hundred day moving average price is $5.89.

Several institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC acquired a new stake in shares of Connect Biopharma in the 4th quarter worth about $56,000. Goldman Sachs Group Inc. acquired a new stake in shares of Connect Biopharma in the 4th quarter worth about $61,000. Chicago Partners Investment Group LLC acquired a new stake in shares of Connect Biopharma in the 4th quarter worth about $97,000. Ensign Peak Advisors Inc acquired a new stake in shares of Connect Biopharma in the 4th quarter worth about $131,000. Finally, Invesco Ltd. increased its holdings in shares of Connect Biopharma by 182.9% in the 4th quarter. Invesco Ltd. now owns 25,629 shares of the company’s stock worth $132,000 after acquiring an additional 16,570 shares during the period. Institutional investors own 34.21% of the company’s stock.

About Connect Biopharma (Get Rating)

Connect Biopharma Holdings Limited, a clinical-stage biopharmaceutical company, focuses on the discovery and development of immune modulators for the treatment of serious autoimmune diseases and inflammation. The company's lead product candidate is CBP-201, an anti-interleukin-4 receptor alpha antibody, which is in Phase IIb clinical trial for the treatment of inflammatory allergic diseases, such as atopic dermatitis, asthma, and chronic rhinosinusitis with nasal polyps.

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