HC Wainwright Raises Connect Biopharma (NASDAQ:CNTB) Price Target to $8.00

Connect Biopharma (NASDAQ:CNTB) had its price objective lifted by HC Wainwright from $7.00 to $8.00 in a report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Connect Biopharma’s FY2024 earnings at $1.63 EPS, 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 Trading Up 1.3 %

NASDAQ:CNTB opened at $1.54 on Wednesday. Connect Biopharma has a 12 month low of $0.53 and a 12 month high of $2.84. The business’s 50-day moving average is $1.44 and its 200 day moving average is $1.27.

Institutional Investors Weigh In On Connect Biopharma

Hedge funds have recently made changes to their positions in the company. Vident Investment Advisory LLC purchased a new stake in shares of Connect Biopharma in the first quarter worth about $55,000. Renaissance Technologies LLC lifted its position in shares of Connect Biopharma by 184.7% in the second quarter. Renaissance Technologies LLC now owns 66,900 shares of the company’s stock worth $58,000 after buying an additional 43,400 shares in the last quarter. JPMorgan Chase & Co. raised its position in Connect Biopharma by 1,312.7% during the first quarter. JPMorgan Chase & Co. now owns 78,547 shares of the company’s stock valued at $79,000 after purchasing an additional 72,987 shares during the period. 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 valued at $91,000 after purchasing an additional 103,324 shares during the period. Finally, Woodline Partners LP purchased a new stake in Connect Biopharma during the first quarter valued at approximately $132,000. 58.72% of the stock is currently owned by hedge funds and other institutional investors.

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.