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

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

A number of analysts have recently commented on CNTB shares. Lake Street Capital initiated coverage on Connect Biopharma in a research report on Monday, December 1st. They set a “buy” rating and a $9.00 target price on the stock. BTIG Research reaffirmed a “buy” rating and set a $10.00 price target on shares of Connect Biopharma in a research report on Thursday, November 13th. Wall Street Zen upgraded Connect Biopharma to a “hold” rating in a research note on Saturday, December 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Connect Biopharma in a research report on Wednesday, October 8th.

Connect Biopharma Stock Up 4.4%

Shares of NASDAQ:CNTB opened at $2.82 on Friday. The firm has a 50 day simple moving average of $2.32 and a 200-day simple moving average of $1.89. Connect Biopharma has a twelve month low of $0.51 and a twelve month high of $3.28. The company has a current ratio of 5.48, a quick ratio of 5.48 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $157.64 million, a PE ratio of -3.86 and a beta of -0.19.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. AlphaCore Capital LLC purchased a new stake in shares of Connect Biopharma in the second quarter valued at about $78,000. Koa Wealth Management LLC acquired a new position in Connect Biopharma in the 2nd quarter valued at about $49,000. Finally, XTX Topco Ltd purchased a new stake in Connect Biopharma during the 2nd quarter valued at approximately $29,000. 58.72% of the stock is currently owned by institutional investors and hedge funds.

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.