Connect Biopharma (NASDAQ:CNTB) Now Covered by Analysts at Lake Street Capital

Lake Street Capital started coverage on shares of Connect Biopharma (NASDAQ:CNTB) in a report issued on Monday, Marketbeat.com reports. The brokerage set a “buy” rating and a $9.00 price target on the stock. Lake Street Capital’s price target would suggest a potential upside of 238.35% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. BTIG Research reiterated a “buy” rating and set a $10.00 price target on shares of Connect Biopharma in a research report on Thursday, November 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Connect Biopharma in a report on Wednesday, October 8th. Wall Street Zen upgraded Connect Biopharma to a “hold” rating in a research note on Friday, August 22nd. Finally, HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of Connect Biopharma in a research report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Connect Biopharma currently has a consensus rating of “Moderate Buy” and an average price target of $8.67.

Connect Biopharma Price Performance

Shares of Connect Biopharma stock opened at $2.66 on Monday. The business has a 50 day moving average of $1.94 and a 200 day moving average of $1.64. Connect Biopharma has a 52 week low of $0.51 and a 52 week high of $3.28. The company has a market cap of $148.69 million, a PE ratio of -3.64 and a beta of -0.19. The company has a quick ratio of 5.48, a current ratio of 5.48 and a debt-to-equity ratio of 0.01.

Connect Biopharma (NASDAQ:CNTB) last issued its quarterly earnings data 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, equities research analysts forecast that Connect Biopharma will post -0.22 earnings per share for the current year.

Institutional Investors Weigh In On Connect Biopharma

A number of institutional investors have recently made changes to their positions in the company. AlphaCore Capital LLC purchased a new position in Connect Biopharma in the 2nd quarter worth approximately $78,000. Koa Wealth Management LLC bought a new stake in shares of Connect Biopharma in the 2nd quarter worth $49,000. Finally, XTX Topco Ltd bought a new stake in shares of Connect Biopharma in the 2nd quarter worth $29,000. Hedge funds and other institutional investors own 58.72% of the company’s stock.

Connect Biopharma Company Profile

Connect Biopharma Holdings Limited, a clinical-stage biopharmaceutical company, engages in the development of therapies for the treatment of 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.