Connect Biopharma’s (CNTB) Buy Rating Reiterated at BTIG Research

Connect Biopharma (NASDAQ:CNTB)‘s stock had its “buy” rating restated by analysts at BTIG Research in a note issued to investors on Thursday,Benzinga reports. They currently have a $10.00 price objective on the stock.

A number of other equities research analysts also recently weighed in on CNTB. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Connect Biopharma in a research note on Wednesday, October 8th. Wall Street Zen raised Connect Biopharma to a “hold” rating in a research report on Friday, August 22nd. HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of Connect Biopharma in a report on Wednesday, August 13th. Finally, Northland Capmk raised Connect Biopharma to a “strong-buy” rating in a research report on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $8.50.

Connect Biopharma Price Performance

Shares of NASDAQ CNTB traded down $0.01 during mid-day trading on Thursday, hitting $1.60. 7,631 shares of the stock were exchanged, compared to its average volume of 110,732. The stock’s fifty day simple moving average is $1.65 and its two-hundred day simple moving average is $1.45. The company has a market cap of $89.10 million, a P/E ratio of -3.86 and a beta of -0.14. Connect Biopharma has a twelve month low of $0.51 and a twelve month high of $2.86. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.24 and a current ratio of 7.24.

Connect Biopharma (NASDAQ:CNTB) last released its earnings results on Wednesday, November 12th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.07). As a group, analysts forecast that Connect Biopharma will post -0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Connect Biopharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNTB. Koa Wealth Management LLC acquired a new position in shares of Connect Biopharma in the 2nd quarter valued at $49,000. AlphaCore Capital LLC bought a new stake in Connect Biopharma during the second quarter worth approximately $78,000. Finally, XTX Topco Ltd acquired a new position in Connect Biopharma in the 2nd quarter worth approximately $29,000. Institutional investors and hedge funds own 58.72% of the company’s stock.

About Connect Biopharma

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.