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

Connect Biopharma Holdings Limited Sponsored ADR (NASDAQ:CNTB) has been given a consensus rating of “Moderate Buy” by the five ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $8.6667.

Several research analysts have recently commented on CNTB shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Connect Biopharma in a report on Wednesday, October 8th. Wall Street Zen upgraded Connect Biopharma to a “hold” rating in a research report on Saturday, December 20th. BTIG Research restated a “buy” rating and set a $10.00 target price on shares of Connect Biopharma in a report on Thursday, November 13th. Finally, Lake Street Capital started coverage on Connect Biopharma in a research note on Monday, December 1st. They issued a “buy” rating and a $9.00 target price for the company.

Connect Biopharma Stock Up 8.0%

CNTB opened at $2.81 on Friday. The firm has a market cap of $157.02 million, a price-to-earnings ratio of -3.85 and a beta of -0.19. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.48 and a current ratio of 5.48. The firm’s 50-day simple moving average is $2.21 and its 200-day simple moving average is $1.83. Connect Biopharma has a twelve month low of $0.51 and a twelve month high of $3.28.

Connect Biopharma (NASDAQ:CNTB) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.07). Equities research analysts anticipate that Connect Biopharma will post -0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Connect Biopharma

A number of institutional investors have recently modified their holdings of the stock. XTX Topco Ltd bought a new stake in shares of Connect Biopharma during the second quarter valued at approximately $29,000. AlphaCore Capital LLC bought a new position in Connect Biopharma in the 2nd quarter worth approximately $78,000. Finally, Koa Wealth Management LLC acquired a new position in Connect Biopharma during the 2nd quarter worth $49,000. 58.72% of the stock is owned by institutional investors.

About Connect Biopharma

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.