BML Capital Management LLC Sells 554,058 Shares of Connect Biopharma Holdings Limited Sponsored ADR $CNTB

BML Capital Management LLC cut its stake in Connect Biopharma Holdings Limited Sponsored ADR (NASDAQ:CNTB) by 30.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,267,500 shares of the company’s stock after selling 554,058 shares during the quarter. Connect Biopharma comprises about 1.5% of BML Capital Management LLC’s portfolio, making the stock its 11th biggest position. BML Capital Management LLC owned approximately 2.27% of Connect Biopharma worth $1,914,000 as of its most recent filing with the Securities and Exchange Commission.

Separately, XTX Topco Ltd purchased a new position in Connect Biopharma in the second quarter valued at about $29,000. 58.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on CNTB. Wall Street Zen raised shares of Connect Biopharma to a “hold” rating in a research report on Saturday, December 20th. Lake Street Capital assumed coverage on shares of Connect Biopharma in a research report on Monday, December 1st. They issued a “buy” rating and a $9.00 price objective on the stock. BTIG Research reissued a “buy” rating and set a $10.00 target price on shares of Connect Biopharma in a research report on Thursday, November 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Connect Biopharma in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.67.

Connect Biopharma Stock Down 8.6%

NASDAQ:CNTB opened at $2.65 on Monday. 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 Holdings Limited Sponsored ADR has a twelve month low of $0.51 and a twelve month high of $3.28. The company has a market cap of $148.14 million, a PE ratio of -3.63 and a beta of -0.19. The company’s 50 day moving average is $2.50 and its two-hundred day moving average is $2.14.

Connect Biopharma 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.