Connect Biopharma Holdings Limited Sponsored ADR (NASDAQ:CNTB) Given Average Rating of “Moderate Buy” by Analysts

Shares of Connect Biopharma Holdings Limited Sponsored ADR (NASDAQ:CNTB) have received an average recommendation of “Moderate Buy” from the five research firms that are currently covering the firm, Marketbeat.com reports. One research 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 12-month price target among analysts that have issued a report on the stock in the last year is $8.6667.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd bought a new stake in shares of Connect Biopharma in the 2nd quarter valued at approximately $29,000. Koa Wealth Management LLC bought a new position in shares of Connect Biopharma during the 2nd quarter worth approximately $49,000. Finally, AlphaCore Capital LLC acquired a new stake in Connect Biopharma in the 2nd quarter valued at $78,000. Institutional investors own 58.72% of the company’s stock.

Connect Biopharma Stock Up 8.0%

Shares of CNTB opened at $2.81 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.48 and a current ratio of 5.48. The company has a 50-day simple moving average of $2.21 and a 200-day simple moving average of $1.83. Connect Biopharma has a 52 week low of $0.51 and a 52 week high of $3.28. The firm has a market capitalization of $157.02 million, a P/E ratio of -3.85 and a beta of -0.19.

Connect Biopharma (NASDAQ:CNTB) last released its earnings results on Wednesday, November 12th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.07). On average, equities research analysts expect that Connect Biopharma will post -0.22 earnings per share for the current year.

Connect Biopharma Company Profile

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.