Brokerages Set Connect Biopharma Holdings Limited Sponsored ADR (NASDAQ:CNTB) Price Target at $8.67

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

Several research analysts have commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Connect Biopharma in a report on Wednesday, January 21st. Lake Street Capital initiated coverage on Connect Biopharma in a report on Monday, December 1st. They issued a “buy” rating and a $9.00 target price for the company. Finally, Wall Street Zen upgraded Connect Biopharma to a “hold” rating in a research note on Saturday, December 20th.

Connect Biopharma Stock Performance

Shares of NASDAQ:CNTB opened at $2.69 on Wednesday. The firm’s 50 day simple moving average is $2.51 and its 200-day simple moving average is $2.21. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.48 and a current ratio of 5.48. Connect Biopharma has a one year low of $0.51 and a one year high of $3.28. The firm has a market cap of $150.37 million, a PE ratio of -3.68 and a beta of -0.20.

Institutional Investors Weigh In On Connect Biopharma

Several large investors have recently modified their holdings of CNTB. Perceptive Advisors LLC purchased a new position in Connect Biopharma during the fourth quarter valued at approximately $2,235,000. Knott David M Jr purchased a new stake in Connect Biopharma during the fourth quarter worth $564,000. Richmond Brothers Inc. purchased a new stake in Connect Biopharma during the fourth quarter worth $489,000. Jane Street Group LLC bought a new stake in Connect Biopharma during the 4th quarter valued at $232,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in shares of Connect Biopharma in the 4th quarter valued at $228,000. Institutional investors own 58.72% of the company’s stock.

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.