BTIG Research Cuts Connect Biopharma (NASDAQ:CNTB) Price Target to $5.00

Connect Biopharma (NASDAQ:CNTB) had its price target lowered by investment analysts at BTIG Research to $5.00 in a research note issued on Wednesday, Marketbeat reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price objective indicates a potential upside of 354.55% from the company’s current price.

CNTB has been the topic of several other research reports. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of Connect Biopharma in a report on Monday, September 14th. Weiss Ratings upgraded shares of Connect Biopharma from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 24th. Canaccord Genuity Group decreased their price objective on shares of Connect Biopharma from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, September 16th. Piper Sandler began coverage on shares of Connect Biopharma in a report on Friday, June 26th. They set an “overweight” rating and a $7.00 price objective for the company. Finally, Wall Street Zen raised Connect Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Connect Biopharma presently has an average rating of “Moderate Buy” and an average price target of $6.14.

Connect Biopharma Price Performance

Shares of Connect Biopharma stock traded up $0.11 during midday trading on Wednesday, hitting $1.10. 164,843,755 shares of the company were exchanged, compared to its average volume of 1,387,518. The firm has a 50 day simple moving average of $1.97 and a 200-day simple moving average of $2.31. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.37 and a quick ratio of 2.37. The firm has a market cap of $69.27 million, a P/E ratio of -0.92 and a beta of -0.23. Connect Biopharma has a 52 week low of $0.98 and a 52 week high of $3.82.

Connect Biopharma (NASDAQ:CNTB) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.04. The company had revenue of $2.75 million during the quarter, compared to the consensus estimate of $0.74 million. Research analysts forecast that Connect Biopharma will post -1.1 earnings per share for the current year.

Institutional Investors Weigh In On Connect Biopharma

A number of hedge funds have recently added to or reduced their stakes in CNTB. ADAR1 Capital Management LLC acquired a new stake in Connect Biopharma in the 1st quarter valued at about $1,945,000. Knott David M Jr lifted its position in shares of Connect Biopharma by 93.9% during 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 in the last quarter. Richmond Brothers Inc. bought a new stake in shares of Connect Biopharma during the fourth quarter valued at approximately $489,000. Simplify Asset Management Inc. acquired a new stake in shares of Connect Biopharma in the first quarter valued at approximately $135,000. Finally, Bank of America Corp DE acquired a new stake in shares of Connect Biopharma in the first quarter valued at approximately $41,000. Institutional investors own 58.72% of the company’s stock.

Connect Biopharma News Roundup

Here are the key news stories impacting Connect Biopharma this week:

• Positive Sentiment: In the global Seabreeze STAT study, rademikibart used as an add-on to standard treatment reduced the rate of treatment failure through one month by 81% versus placebo, with statistical significance (p=0.0122). The result strengthens the drug’s potential as a treatment for acute COPD exacerbations. Connect Biopharma Announces Positive Preliminary Topline Data
• Positive Sentiment: Connect Biopharma said it plans to discuss the results and a potential Phase 3 development program with the U.S. Food and Drug Administration. Advancing toward a pivotal trial could increase the commercial value of rademikibart, although additional regulatory and clinical milestones remain necessary. Connect Biopharma Reports Positive Phase 2 COPD Data
• Positive Sentiment: The news triggered heavy trading and a sharp rise in CNTB shares, indicating strong investor interest in the COPD opportunity and the possibility of a broader rademikibart indication. Connect Biopharma Stock Rises After Positive Phase 2 COPD Trial Results
• Neutral Sentiment: BTIG Research lowered its price target to $5.00 but retained a Buy rating. The revised target remains substantially above the recent trading level, but the reduction signals that analysts may still view execution, regulatory approval and financing risks as significant.

About Connect Biopharma

Connect Biopharma Holdings Limited (NASDAQ:CNTB) is a clinical-stage biopharmaceutical company focused on developing therapies for chronic inflammatory and immune-mediated diseases. The company’s research is based on insights into T-cell biology and aims to address conditions with significant unmet medical needs, including inflammatory bowel disease and dermatological disorders.

Connect Biopharma’s pipeline has included CBP-201, an antibody targeting the interleukin-4 receptor alpha pathway, and CBP-307, an oral sphingosine-1-phosphate receptor modulator.