Connect Biopharma Holdings Limited Sponsored ADR (NASDAQ:CNTB) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Shares have a consensus recommendation of Moderate Buy from five analysts (1 sell, 3 buy, 1 strong buy) with an average 12‑month price target of $8.67.
• Director James Huang purchased 1,160,000 shares at $3.45 on March 31, increasing his stake to 13,160,000 shares (a 9.67% rise); insiders own 22.60% of the stock while institutions own 58.72%.
• Connect reported Q1 EPS of ($0.27), beating estimates by $0.03, and the stock trades around $2.99 with a market cap of about $169 million and a 1‑year range of $0.51–$3.82.

Shares of Connect Biopharma Holdings Limited Sponsored ADR (NASDAQ:CNTB - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the five ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $8.6667.

Several research analysts have recently commented on the company. Wall Street Zen upgraded Connect Biopharma to a "hold" rating in a report on Saturday, December 20th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Connect Biopharma in a research report on Wednesday, January 21st. Finally, BTIG Research reaffirmed a "buy" rating and set a $10.00 price objective on shares of Connect Biopharma in a research report on Tuesday, March 31st.

Insider Buying and Selling at Connect Biopharma

In other news, Director James Huang purchased 1,160,000 shares of the company's stock in a transaction that occurred on Tuesday, March 31st. The shares were bought at an average cost of $3.45 per share, for a total transaction of $4,002,000.00. Following the completion of the transaction, the director directly owned 13,160,000 shares of the company's stock, valued at $45,402,000. This trade represents a 9.67% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 22.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Connect Biopharma

Several hedge funds have recently added to or reduced their stakes in CNTB. Perceptive Advisors LLC bought a new position in Connect Biopharma in the 4th quarter worth about $2,235,000. Millennium Management LLC purchased a new position in Connect Biopharma in the 4th quarter worth approximately $133,000. Royal Bank of Canada bought a new position in Connect Biopharma in the 4th quarter valued at approximately $114,000. Persistent Asset Partners Ltd purchased a new stake in Connect Biopharma during the 4th quarter valued at $76,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in Connect Biopharma during the 4th quarter valued at $228,000. 58.72% of the stock is owned by institutional investors.

Connect Biopharma Price Performance

Shares of CNTB opened at $2.99 on Friday. The firm has a market cap of $168.99 million, a P/E ratio of -2.99 and a beta of -0.21. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.48 and a quick ratio of 5.48. Connect Biopharma has a 1 year low of $0.51 and a 1 year high of $3.82. The stock has a 50 day simple moving average of $2.71 and a two-hundred day simple moving average of $2.33.

Connect Biopharma (NASDAQ:CNTB - Get Free Report) last issued its earnings results on Tuesday, March 31st. The company reported ($0.27) EPS for the quarter, topping analysts' consensus estimates of ($0.30) by $0.03. The business had revenue of ($0.05) million during the quarter, compared to analysts' expectations of $0.00 million. On average, analysts forecast that Connect Biopharma will post -0.22 earnings per share for the current fiscal year.

Connect Biopharma Company Profile

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.

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