Connect Biopharma Holdings Limited Sponsored ADR (NASDAQ:CNTB) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Connect Biopharma Holdings Limited Sponsored ADR (NASDAQ:CNTBGet Free Report) have been given an average recommendation of “Moderate Buy” by the eight analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $7.4286.

Several equities analysts recently weighed in on the stock. Wall Street Zen raised shares of Connect Biopharma from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings cut shares of Connect Biopharma from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, June 30th. Cantor Fitzgerald began coverage on shares of Connect Biopharma in a report on Thursday, May 21st. They set an “overweight” rating and a $4.00 price objective for the company. Oppenheimer started coverage on Connect Biopharma in a research report on Thursday, July 9th. They set an “outperform” rating and a $8.00 price objective for the company. Finally, Canaccord Genuity Group set a $7.00 target price on Connect Biopharma in a report on Friday, August 14th.

View Our Latest Stock Analysis on CNTB

Hedge Funds Weigh In On Connect Biopharma

Institutional investors have recently added to or reduced their stakes in the company. Perceptive Advisors LLC purchased a new stake in shares of Connect Biopharma during the 4th quarter worth approximately $2,235,000. ADAR1 Capital Management LLC purchased a new position in shares of Connect Biopharma in the first quarter valued at $1,945,000. Knott David M Jr increased its position in Connect Biopharma by 93.9% in the first quarter. Knott David M Jr now owns 387,835 shares of the company’s stock worth $1,016,000 after purchasing an additional 187,835 shares during the last quarter. Richmond Brothers Inc. bought a new stake in Connect Biopharma in the fourth quarter worth $489,000. Finally, Marshall Wace LLP raised its stake in Connect Biopharma by 121.2% during the fourth quarter. Marshall Wace LLP now owns 128,368 shares of the company’s stock valued at $362,000 after purchasing an additional 70,337 shares in the last quarter. Hedge funds and other institutional investors own 58.72% of the company’s stock.

Connect Biopharma Trading Up 7.3%

CNTB stock opened at $2.36 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.37 and a quick ratio of 2.37. Connect Biopharma has a 1-year low of $1.23 and a 1-year high of $3.82. The business has a 50 day simple moving average of $2.28 and a two-hundred day simple moving average of $2.46. The company has a market capitalization of $148.61 million, a price-to-earnings ratio of -1.98 and a beta of -0.23.

Connect Biopharma (NASDAQ:CNTBGet Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.04. The company had revenue of $2.75 million for the quarter, compared to the consensus estimate of $0.74 million. Research analysts anticipate that Connect Biopharma will post -1.1 EPS for the current fiscal year.

Connect Biopharma Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Connect Biopharma (NASDAQ:CNTB)

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