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

Shares of Connect Biopharma Holdings Limited Sponsored ADR (NASDAQ:CNTB) have been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $8.6667.

Several equities analysts have recently commented on the stock. BTIG Research restated a “buy” rating and issued a $10.00 target price on shares of Connect Biopharma in a research report on Thursday, November 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Connect Biopharma in a research note on Wednesday, January 21st. Wall Street Zen raised Connect Biopharma to a “hold” rating in a report on Saturday, December 20th. Finally, Lake Street Capital began 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 for the company.

Connect Biopharma Price Performance

Shares of NASDAQ CNTB opened at $2.60 on Friday. Connect Biopharma has a fifty-two week low of $0.51 and a fifty-two week high of $3.28. The stock has a market capitalization of $145.34 million, a price-to-earnings ratio of -3.56 and a beta of -0.20. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.48 and a quick ratio of 5.48. The business has a 50-day moving average of $2.46 and a 200-day moving average of $2.11.

Connect Biopharma (NASDAQ:CNTB) last posted its earnings results on Wednesday, November 12th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.07). As a group, sell-side analysts predict that Connect Biopharma will post -0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Connect Biopharma

A number of hedge funds have recently made changes to their positions in CNTB. XTX Topco Ltd purchased a new stake in Connect Biopharma in the 2nd quarter worth approximately $29,000. SmartHarvest Portfolios LLC purchased a new position in Connect Biopharma in the fourth quarter worth about $36,000. HRT Financial LP lifted its position in Connect Biopharma by 60.5% in the 4th quarter. HRT Financial LP now owns 16,785 shares of the company’s stock valued at $47,000 after acquiring an additional 6,328 shares in the last quarter. Koa Wealth Management LLC purchased a new stake in shares of Connect Biopharma during the second quarter valued at $49,000. Finally, AlphaCore Capital LLC bought a new position in Connect Biopharma during the second quarter valued at approximately $78,000. 58.72% of the stock is currently owned by institutional investors.

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.