Connect Biopharma Holdings Limited Sponsored ADR (NASDAQ:CNTB) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Connect Biopharma Holdings Limited Sponsored ADR (NASDAQ:CNTB) have earned a consensus recommendation of “Moderate Buy” from the five brokerages that are presently covering the company, Marketbeat Ratings reports. One investment 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 target price among brokers that have updated their coverage on the stock in the last year is $8.6667.

Several equities analysts have recently commented on the stock. Lake Street Capital started coverage on shares of Connect Biopharma in a report on Monday, December 1st. They issued a “buy” rating and a $9.00 price objective on the stock. Wall Street Zen upgraded Connect Biopharma to a “hold” rating in a research note on Saturday, December 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Connect Biopharma in a research report on Wednesday, January 21st. Finally, BTIG Research reiterated a “buy” rating and issued a $10.00 price objective on shares of Connect Biopharma in a report on Thursday, November 13th.

Institutional Trading of Connect Biopharma

A number of institutional investors and hedge funds have recently bought and sold shares of the business. SmartHarvest Portfolios LLC purchased a new position in shares of Connect Biopharma in the fourth quarter valued at approximately $36,000. HRT Financial LP grew its stake in shares of Connect Biopharma by 60.5% in the fourth quarter. HRT Financial LP now owns 16,785 shares of the company’s stock worth $47,000 after acquiring an additional 6,328 shares in the last quarter. Persistent Asset Partners Ltd purchased a new stake in shares of Connect Biopharma during the fourth quarter worth $76,000. XTX Topco Ltd purchased a new stake in shares of Connect Biopharma during the second quarter worth $29,000. Finally, Royal Bank of Canada acquired a new stake in shares of Connect Biopharma in the fourth quarter valued at $114,000. 58.72% of the stock is currently owned by hedge funds and other institutional investors.

Connect Biopharma Trading Up 5.3%

Shares of CNTB stock opened at $2.79 on Wednesday. Connect Biopharma has a 1-year low of $0.51 and a 1-year high of $3.28. The firm has a market cap of $155.96 million, a PE ratio of -3.82 and a beta of -0.20. The company has a 50-day moving average of $2.50 and a two-hundred day moving average of $2.19. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.48 and a quick ratio of 5.48.

About Connect Biopharma

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.