Connect Biopharma Holdings Limited Sponsored ADR $CNTB Stake Lifted by BML Capital Management LLC

BML Capital Management LLC increased its holdings in shares of Connect Biopharma Holdings Limited Sponsored ADR (NASDAQ:CNTB) by 574.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,864,400 shares of the company’s stock after purchasing an additional 3,291,113 shares during the quarter. Connect Biopharma accounts for 2.3% of BML Capital Management LLC’s portfolio, making the stock its 12th biggest holding. BML Capital Management LLC owned about 0.06% of Connect Biopharma worth $4,251,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Bank of America Corp DE bought a new stake in Connect Biopharma in the 1st quarter worth about $41,000. Knott David M Jr raised its position in Connect Biopharma by 93.9% in the 1st quarter. Knott David M Jr now owns 387,835 shares of the company’s stock worth $1,016,000 after buying an additional 187,835 shares during the last quarter. Finally, ADAR1 Capital Management LLC purchased a new position in Connect Biopharma in the 1st quarter worth about $1,945,000. 58.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CNTB shares. Leerink Partners began coverage on shares of Connect Biopharma in a research note on Monday, October 12th. They set an “outperform” rating and a $4.00 target price on the stock. Weiss Ratings cut shares of Connect Biopharma from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, October 21st. HC Wainwright restated a “buy” rating on shares of Connect Biopharma in a research report on Wednesday, October 28th. Wall Street Zen cut shares of Connect Biopharma from a “hold” rating to a “sell” rating in a report on Saturday, October 31st. Finally, BTIG Research dropped their target price on shares of Connect Biopharma to $5.00 and set a “buy” rating on the stock in a report on Wednesday, September 30th. Eight analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Connect Biopharma currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.88.

Connect Biopharma Stock Performance

CNTB opened at $0.68 on Friday. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 0.01. The company has a market cap of $42.64 million, a price-to-earnings ratio of -0.57 and a beta of 0.06. The company’s 50 day moving average is $1.04 and its 200 day moving average is $2.11. Connect Biopharma Holdings Limited Sponsored ADR has a 12-month low of $0.64 and a 12-month high of $3.82.

Connect Biopharma (NASDAQ:CNTB) last announced its earnings results on Wednesday, August 12th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.04. The business had revenue of $2.75 million for the quarter, compared to the consensus estimate of $0.74 million. On average, equities research analysts predict that Connect Biopharma Holdings Limited Sponsored ADR will post -1.09 EPS for the current year.

Connect Biopharma Company Profile

Connect Biopharma is a biopharmaceutical company focused on developing treatments for inflammatory diseases, particularly conditions driven by T cells. The company has operated in the United States and China and has advanced its drug candidates through clinical development. Its lead candidate, rademikibart (formerly CBP-201), is an investigational antibody that targets the interleukin-4 receptor alpha pathway, which is involved in allergic inflammation. It has been studied for conditions including atopic dermatitis and asthma.