HC Wainwright Boosts Connect Biopharma (NASDAQ:CNTB) Price Target to $8.00

Connect Biopharma (NASDAQ:CNTB) had its target price raised by HC Wainwright from $7.00 to $8.00 in a research report sent to investors on Wednesday, Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Connect Biopharma Trading Down 10.4 %

Shares of NASDAQ:CNTB opened at $1.55 on Wednesday. The stock has a fifty day moving average of $1.43 and a 200-day moving average of $1.27. Connect Biopharma has a one year low of $0.53 and a one year high of $2.84.

Institutional Trading of Connect Biopharma

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vident Investment Advisory LLC acquired a new position in shares of Connect Biopharma in the first quarter worth about $55,000. Woodline Partners LP acquired a new position in Connect Biopharma in the 1st quarter worth approximately $132,000. Invesco Ltd. grew its position in Connect Biopharma by 135.9% during the 1st quarter. Invesco Ltd. now owns 60,449 shares of the company’s stock worth $183,000 after purchasing an additional 34,820 shares in the last quarter. Renaissance Technologies LLC raised its stake in Connect Biopharma by 184.7% during the 2nd quarter. Renaissance Technologies LLC now owns 66,900 shares of the company’s stock valued at $58,000 after purchasing an additional 43,400 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in Connect Biopharma by 1,312.7% in the 1st quarter. JPMorgan Chase & Co. now owns 78,547 shares of the company’s stock worth $79,000 after acquiring an additional 72,987 shares in the last quarter. Institutional investors and hedge funds own 58.72% of the company’s stock.

About Connect Biopharma

Connect Biopharma Holdings Limited, a clinical-stage biopharmaceutical company, focuses on developing therapies to treat T cell-driven inflammatory diseases. The company is building a pipeline of small molecules and antibodies using functional T cell assays to screen and discover potent product candidates against validated immune targets.