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

Connect Biopharma Holdings Limited Sponsored ADR (NASDAQ:CNTB) has been given a consensus rating of “Moderate Buy” by the five ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating 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 equities analysts have weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Connect Biopharma in a research report on Wednesday, January 21st. Lake Street Capital initiated coverage on Connect Biopharma in a research report on Monday, December 1st. They set a “buy” rating and a $9.00 price objective for the company. BTIG Research reissued a “buy” rating and issued a $10.00 target price on shares of Connect Biopharma in a research note on Thursday, November 13th. Finally, Wall Street Zen upgraded shares of Connect Biopharma to a “hold” rating in a report on Saturday, December 20th.

Connect Biopharma Trading Down 8.6%

Shares of CNTB opened at $2.65 on Friday. 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 stock has a market cap of $148.14 million, a price-to-earnings ratio of -3.63 and a beta of -0.20. The firm has a 50 day simple moving average of $2.50 and a 200-day simple moving average of $2.14.

Institutional Trading of Connect Biopharma

A number of hedge funds have recently bought and sold shares of the company. SmartHarvest Portfolios LLC acquired a new position in Connect Biopharma in the 4th quarter valued at $36,000. HRT Financial LP grew its position in shares of Connect Biopharma by 60.5% in the fourth quarter. HRT Financial LP now owns 16,785 shares of the company’s stock valued at $47,000 after purchasing an additional 6,328 shares during the period. Persistent Asset Partners Ltd purchased a new stake in shares of Connect Biopharma in the fourth quarter valued at $76,000. XTX Topco Ltd acquired a new position in Connect Biopharma in the second quarter valued at $29,000. Finally, Royal Bank of Canada purchased a new position in Connect Biopharma during the fourth quarter worth about $114,000. 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.