Brokerages Set Connect Biopharma Holdings Limited Sponsored ADR (NASDAQ:CNTB) PT at $8.67

Shares of Connect Biopharma Holdings Limited Sponsored ADR (NASDAQ:CNTB) have been given an average rating of “Moderate Buy” by the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $8.6667.

Several brokerages recently commented on CNTB. Wall Street Zen raised shares of Connect Biopharma to a “hold” rating in a research report on Saturday, December 20th. Lake Street Capital started coverage on shares of Connect Biopharma in a report on Monday, December 1st. They issued a “buy” rating and a $9.00 price target on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Connect Biopharma in a report on Wednesday, January 21st.

Connect Biopharma Trading Up 0.4%

Shares of CNTB stock opened at $2.71 on Wednesday. The firm’s 50-day simple moving average is $2.52 and its 200-day simple moving average is $2.22. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.48 and a quick ratio of 5.48. Connect Biopharma has a 1-year low of $0.51 and a 1-year high of $3.28. The firm has a market cap of $151.50 million, a P/E ratio of -3.71 and a beta of -0.20.

Institutional Investors Weigh In On Connect Biopharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Perceptive Advisors LLC purchased a new position in shares of Connect Biopharma in the 4th quarter worth about $2,235,000. Knott David M Jr purchased a new stake in shares of Connect Biopharma during the 4th quarter worth about $564,000. Richmond Brothers Inc. purchased a new stake in shares of Connect Biopharma during the 4th quarter worth about $489,000. Jane Street Group LLC acquired a new stake in Connect Biopharma during the 4th quarter worth approximately $232,000. Finally, OMERS ADMINISTRATION Corp acquired a new stake in Connect Biopharma during the 4th quarter worth approximately $228,000. 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.