HC Wainwright Reaffirms "Buy" Rating for Connect Biopharma (NASDAQ:CNTB)

Key Points

• Connect Biopharma's stock received a reaffirmed "buy" rating from HC Wainwright, with a price target of $7.00 indicating a potential upside of 205.68% from its current price.
• The company's shares recently traded at $2.29, showing a modest increase of 0.9%, while institutional investors hold 58.72% of the company’s stock.
• Connect Biopharma reported a quarterly EPS of ($0.23), slightly missing analysts' expectations of ($0.22).

HC Wainwright restated their buy rating on shares of Connect Biopharma (NASDAQ:CNTB - Free Report) in a report issued on Wednesday morning,Benzinga reports. The firm currently has a $7.00 price objective on the stock. HC Wainwright also issued estimates for Connect Biopharma's Q3 2025 earnings at ($0.24) EPS, Q4 2025 earnings at ($0.25) EPS, FY2027 earnings at ($0.89) EPS and FY2029 earnings at ($0.34) EPS.

Separately, Northland Capmk raised Connect Biopharma to a "strong-buy" rating in a research report on Tuesday, July 22nd.

Connect Biopharma Stock Down 4.7%

NASDAQ CNTB traded down $0.10 on Wednesday, reaching $2.05. 152,118 shares of the stock traded hands, compared to its average volume of 216,974. The firm's fifty day simple moving average is $1.52 and its 200 day simple moving average is $1.05. 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 has a 12 month low of $0.51 and a 12 month high of $2.86.

Connect Biopharma (NASDAQ:CNTB - Get Free Report) last released its earnings results on Thursday, May 15th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.26) by $0.07. On average, analysts predict that Connect Biopharma will post -0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Connect Biopharma

Large investors have recently modified their holdings of the business. XTX Topco Ltd bought a new stake in shares of Connect Biopharma in the 2nd quarter valued at about $29,000. AlphaCore Capital LLC bought a new position in Connect Biopharma in the 2nd quarter valued at about $78,000. Finally, Koa Wealth Management LLC acquired a new position in shares of Connect Biopharma during the 2nd quarter worth approximately $49,000. 58.72% of the stock is currently owned by institutional investors and hedge funds.

Connect Biopharma Company Profile

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.