HC Wainwright Analysts Lift Earnings Estimates for Connect Biopharma Holdings Limited (NASDAQ:CNTB)

Connect Biopharma Holdings Limited (NASDAQ:CNTB) – Equities researchers at HC Wainwright boosted their FY2024 earnings estimates for shares of Connect Biopharma in a note issued to investors on Wednesday, April 17th. HC Wainwright analyst E. Bodnar now anticipates that the company will post earnings per share of $1.63 for the year, up from their previous estimate of $0.92. HC Wainwright has a “Buy” rating and a $8.00 price objective on the stock. The consensus estimate for Connect Biopharma’s current full-year earnings is $0.19 per share. HC Wainwright also issued estimates for Connect Biopharma’s FY2025 earnings at ($0.71) EPS, FY2026 earnings at ($0.42) EPS, FY2027 earnings at ($0.01) EPS and FY2028 earnings at ($0.16) EPS.

Connect Biopharma Stock Performance

CNTB stock opened at $1.52 on Friday. Connect Biopharma has a one year low of $0.53 and a one year high of $2.84. The company has a fifty day moving average of $1.44 and a 200-day moving average of $1.27.

Institutional Trading of Connect Biopharma

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Connect Biopharma by 4.3% in the 1st quarter. BlackRock Inc. now owns 2,236,392 shares of the company’s stock worth $6,755,000 after acquiring an additional 92,632 shares during the period. BML Capital Management LLC acquired a new position in Connect Biopharma during the fourth quarter worth about $2,432,000. Citadel Advisors LLC acquired a new position in Connect Biopharma during the second quarter worth about $357,000. UBS Group AG raised its position in Connect Biopharma by 5,552.1% during the second quarter. UBS Group AG now owns 105,185 shares of the company’s stock worth $91,000 after acquiring an additional 103,324 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Connect Biopharma by 24.5% during the third quarter. Renaissance Technologies LLC now owns 83,300 shares of the company’s stock worth $107,000 after acquiring an additional 16,400 shares during the last quarter. Institutional investors and hedge funds own 58.72% of the company’s stock.

Connect Biopharma Company Profile

Connect Biopharma Holdings Limited, a clinical-stage biopharmaceutical company, focuses on developing therapies to treat 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.