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

Key Points

• Analysts give Connect Biopharma a consensus rating of Moderate Buy (1 sell, 3 buy, 1 strong buy) with an average 12‑month target of $8.67; BTIG set a $10 target while Weiss Ratings reiterated a sell.
• Director James Huang bought 1,160,000 shares at $3.45 on March 31, increasing his holding by 9.67%, and insiders now own 22.6% of the company.
• The clinical‑stage biopharma has a market cap of $143 million and trades near $2.53; it reported a quarterly loss of $0.27 per share (beating the $0.30 loss estimate), analysts forecast FY EPS of -0.91, and the 12‑month range is $0.70–$3.82.

Shares of Connect Biopharma Holdings Limited Sponsored ADR (NASDAQ:CNTB - Get Free Report) have been given a consensus rating of "Moderate Buy" by the five research firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $8.6667.

Several equities research analysts have commented on the company. BTIG Research restated a "buy" rating and set a $10.00 price target on shares of Connect Biopharma in a research note on Tuesday, March 31st. Weiss Ratings restated a "sell (d-)" rating on shares of Connect Biopharma in a research note on Wednesday, January 21st.

Connect Biopharma Stock Performance

Shares of NASDAQ:CNTB opened at $2.53 on Thursday. The firm has a market capitalization of $143.00 million, a PE ratio of -2.53 and a beta of -0.21. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.74 and a quick ratio of 3.74. The business has a 50-day moving average of $2.76 and a two-hundred day moving average of $2.47. Connect Biopharma has a 12 month low of $0.70 and a 12 month high of $3.82.

Connect Biopharma (NASDAQ:CNTB - Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.03. The firm had revenue of ($0.05) million for the quarter, compared to analyst estimates of $0.00 million. As a group, research analysts forecast that Connect Biopharma will post -0.91 earnings per share for the current year.

Insider Activity at Connect Biopharma

In related news, Director James Huang bought 1,160,000 shares of the company's stock in a transaction that occurred on Tuesday, March 31st. The shares were acquired at an average cost of $3.45 per share, for a total transaction of $4,002,000.00. Following the acquisition, the director owned 13,160,000 shares in the company, valued at $45,402,000. This represents a 9.67% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 22.60% of the company's stock.

Institutional Investors Weigh In On Connect Biopharma

Several hedge funds have recently modified their holdings of the stock. Perceptive Advisors LLC purchased a new stake in shares of Connect Biopharma during the 4th quarter valued at about $2,235,000. Knott David M Jr purchased a new stake in shares of Connect Biopharma during the 4th quarter valued at about $564,000. Richmond Brothers Inc. purchased a new stake in shares of Connect Biopharma during the 4th quarter valued at about $489,000. Marshall Wace LLP raised its holdings in shares of Connect Biopharma by 121.2% during the 4th quarter. Marshall Wace LLP now owns 128,368 shares of the company's stock valued at $362,000 after buying an additional 70,337 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of Connect Biopharma during the 4th quarter valued at about $232,000. 58.72% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.