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

Connect Biopharma Holdings Limited Sponsored ADR (NASDAQ:CNTB) has earned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $7.20.

Several equities research analysts have recently weighed in on CNTB shares. Weiss Ratings reissued a “sell (d)” rating on shares of Connect Biopharma in a research note on Monday, May 4th. Wall Street Zen lowered Connect Biopharma from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Cantor Fitzgerald started coverage on Connect Biopharma in a research note on Thursday, May 21st. They set an “overweight” rating and a $4.00 price objective for the company. Canaccord Genuity Group started coverage on Connect Biopharma in a research note on Tuesday, May 26th. They set a “buy” rating and a $6.00 price objective for the company. Finally, BTIG Research reissued a “buy” rating and set a $10.00 price objective on shares of Connect Biopharma in a research note on Tuesday, March 31st.

Connect Biopharma Price Performance

Shares of CNTB stock opened at $2.49 on Monday. Connect Biopharma has a 1 year low of $0.73 and a 1 year high of $3.82. The stock has a market cap of $156.77 million, a PE ratio of -2.17 and a beta of -0.22. The business’s fifty day moving average is $2.67 and its 200-day moving average is $2.58. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.23 and a current ratio of 3.23.

Connect Biopharma (NASDAQ:CNTB) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.05). The firm had revenue of $0.02 million during the quarter. Equities analysts expect that Connect Biopharma will post -1 earnings per share for the current fiscal year.

Insider Activity at Connect Biopharma

In other Connect Biopharma news, Director James Huang bought 1,160,000 shares of the firm’s stock in a transaction dated Tuesday, March 31st. The stock was acquired at an average price of $3.45 per share, with a total value of $4,002,000.00. Following the completion of the transaction, the director directly owned 13,160,000 shares in the company, valued at approximately $45,402,000. This represents a 9.67% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 22.60% of the stock is currently owned by company insiders.

Institutional Trading of Connect Biopharma

Hedge funds and other institutional investors have recently modified their holdings of the business. Royal Bank of Canada acquired a new stake in shares of Connect Biopharma in the fourth quarter worth $114,000. Persistent Asset Partners Ltd acquired a new stake in shares of Connect Biopharma in the fourth quarter worth $76,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Connect Biopharma in the fourth quarter worth $228,000. Marshall Wace LLP boosted its position in shares of Connect Biopharma by 121.2% in the fourth quarter. Marshall Wace LLP now owns 128,368 shares of the company’s stock worth $362,000 after buying an additional 70,337 shares during the period. Finally, Jane Street Group LLC acquired a new stake in shares of Connect Biopharma in the fourth quarter worth $232,000. Institutional investors and hedge funds own 58.72% of the company’s stock.

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.