Connect Biopharma’s (CNTB) “Buy” Rating Reiterated at HC Wainwright

Connect Biopharma (NASDAQ:CNTB)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a note issued to investors on Friday, Benzinga reports.

A number of other equities analysts also recently weighed in on CNTB. BTIG Research decreased their target price on shares of Connect Biopharma to $5.00 and set a “buy” rating for the company in a research note on Wednesday. Oppenheimer reduced their price objective on Connect Biopharma to $5.00 and set an “outperform” rating for the company in a report on Tuesday, September 22nd. Wall Street Zen raised Connect Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. 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. Finally, Canaccord Genuity Group cut their target price on shares of Connect Biopharma from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, September 16th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $6.14.

Connect Biopharma Stock Down 1.7%

Shares of NASDAQ:CNTB traded down $0.02 during trading on Friday, hitting $0.96. The stock had a trading volume of 1,700,044 shares, compared to its average volume of 1,428,194. Connect Biopharma has a 12 month low of $0.94 and a 12 month high of $3.82. The company has a market capitalization of $60.64 million, a PE ratio of -0.81 and a beta of -0.15. The firm’s fifty day moving average is $1.92 and its 200 day moving average is $2.29. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 0.01.

Connect Biopharma (NASDAQ:CNTB) last announced its 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 business had revenue of $2.75 million for the quarter, compared to the consensus estimate of $0.74 million. Analysts anticipate that Connect Biopharma will post -1.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. ADAR1 Capital Management LLC bought a new position in Connect Biopharma in the 1st quarter worth $1,945,000. Knott David M Jr boosted its holdings in Connect Biopharma by 93.9% in the 1st quarter. Knott David M Jr now owns 387,835 shares of the company’s stock worth $1,016,000 after buying an additional 187,835 shares during the period. Richmond Brothers Inc. bought a new position in Connect Biopharma in the 4th quarter worth $489,000. Simplify Asset Management Inc. bought a new position in Connect Biopharma in the 1st quarter worth $135,000. Finally, Bank of America Corp DE bought a new position in Connect Biopharma in the 1st quarter worth $41,000. Institutional investors own 58.72% of the company’s stock.

Connect Biopharma Company Profile

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.