Connect Biopharma (NASDAQ:CNTB) PT Raised to $8.00

Connect Biopharma (NASDAQ:CNTB) had its target price boosted by HC Wainwright from $7.00 to $8.00 in a research report report published on Wednesday morning, Benzinga reports. HC Wainwright currently has a buy rating on the stock. HC Wainwright also issued estimates for Connect Biopharma’s FY2024 earnings at $1.63 EPS, 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 Stock Performance

NASDAQ:CNTB opened at $1.54 on Wednesday. Connect Biopharma has a 52 week low of $0.53 and a 52 week high of $2.84. The stock’s 50-day moving average price is $1.44 and its 200-day moving average price is $1.27.

Institutional Investors Weigh In On Connect Biopharma

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its position in shares of Connect Biopharma by 4.3% during the 1st quarter. BlackRock Inc. now owns 2,236,392 shares of the company’s stock valued at $6,755,000 after acquiring an additional 92,632 shares during the period. BML Capital Management LLC acquired a new stake in Connect Biopharma in the 4th quarter worth about $2,432,000. Citadel Advisors LLC acquired a new stake in Connect Biopharma in the 2nd quarter worth about $357,000. UBS Group AG boosted its holdings in Connect Biopharma by 5,552.1% in the 2nd quarter. UBS Group AG now owns 105,185 shares of the company’s stock worth $91,000 after buying an additional 103,324 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Connect Biopharma by 24.5% in the 3rd quarter. Renaissance Technologies LLC now owns 83,300 shares of the company’s stock worth $107,000 after buying an additional 16,400 shares during the last quarter. 58.72% of the stock is currently owned by institutional investors and hedge funds.

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.