HC Wainwright Begins Coverage on Connect Biopharma (NASDAQ:CNTB)

Investment analysts at HC Wainwright began coverage on shares of Connect Biopharma (NASDAQ:CNTB) in a note issued to investors on Thursday, Marketbeat Ratings reports. The firm set a “buy” rating and a $7.00 price target on the stock.

Connect Biopharma Price Performance

Shares of NASDAQ:CNTB opened at $0.95 on Thursday. The business has a 50-day moving average price of $0.77 and a 200 day moving average price of $0.89. Connect Biopharma has a 12-month low of $0.51 and a 12-month high of $1.79.

Connect Biopharma (NASDAQ:CNTB) last issued its quarterly earnings results on Thursday, May 15th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.07. Equities analysts predict that Connect Biopharma will post -0.22 earnings per share for the current fiscal year.

Institutional Trading of Connect Biopharma

An institutional investor recently bought a new position in Connect Biopharma stock. Choreo LLC acquired a new stake in Connect Biopharma Holdings Limited (NASDAQ:CNTB) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 160,867 shares of the company’s stock, valued at approximately $204,000. Choreo LLC owned approximately 0.29% of Connect Biopharma at the end of the most recent reporting period. 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, engages in the development of therapies for the treatment of 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.