HC Wainwright Analysts Lift Earnings Estimates for Connect Biopharma Holdings Limited (NASDAQ:CNTB)

Connect Biopharma Holdings Limited (NASDAQ:CNTB) – Investment analysts at HC Wainwright boosted their FY2024 EPS estimates for shares of Connect Biopharma in a research note issued to investors on Wednesday, April 17th. HC Wainwright analyst E. Bodnar now expects that the company will earn $1.63 per share for the year, up from their previous estimate of $0.92. HC Wainwright has a “Buy” rating and a $8.00 price target on the stock. The consensus estimate for Connect Biopharma’s current full-year earnings is $0.19 per share. HC Wainwright also issued estimates for Connect Biopharma’s FY2025 earnings at ($0.71) EPS, FY2026 earnings at ($0.42) EPS, FY2027 earnings at ($0.01) EPS and FY2028 earnings at ($0.16) EPS.

Connect Biopharma Price Performance

Connect Biopharma stock opened at $1.52 on Friday. Connect Biopharma has a 12-month low of $0.53 and a 12-month high of $2.84. The firm has a 50 day moving average of $1.44 and a 200 day moving average of $1.27.

Institutional Investors Weigh In On Connect Biopharma

A number of institutional investors have recently added to or reduced their stakes in the stock. Vident Investment Advisory LLC bought a new position in shares of Connect Biopharma during the 1st quarter valued at approximately $55,000. Woodline Partners LP bought a new position in shares of Connect Biopharma during the 1st quarter valued at approximately $132,000. Invesco Ltd. lifted its position in Connect Biopharma by 135.9% in the first quarter. Invesco Ltd. now owns 60,449 shares of the company’s stock worth $183,000 after buying an additional 34,820 shares during the last quarter. Renaissance Technologies LLC lifted its position in Connect Biopharma by 184.7% in the second quarter. Renaissance Technologies LLC now owns 66,900 shares of the company’s stock worth $58,000 after buying an additional 43,400 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Connect Biopharma by 1,312.7% in the first quarter. JPMorgan Chase & Co. now owns 78,547 shares of the company’s stock worth $79,000 after buying an additional 72,987 shares during the last quarter. 58.72% of the stock is owned by hedge funds and other institutional investors.

Connect Biopharma Company Profile

Connect Biopharma Holdings Limited, a clinical-stage biopharmaceutical company, focuses on developing therapies to treat T cell-driven inflammatory diseases. The company is building a pipeline of small molecules and antibodies using functional T cell assays to screen and discover potent product candidates against validated immune targets.