Connect Biopharma's (CNTB) "Sell (D-)" Rating Reaffirmed at Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed a "sell (D-)" rating for Connect Biopharma (CNTB) in a recent research report.
• Despite the "sell" rating from Weiss, other analysts have differing views, with HC Wainwright issuing a "buy" rating and a target price of $7.00.
• Connect Biopharma's stock price increased by 2.2%, closing at $1.82, with institutional investors holding approximately 58.72% of the company's stock.

Connect Biopharma (NASDAQ:CNTB - Get Free Report)'s stock had its "sell (d-)" rating restated by investment analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

CNTB has been the subject of several other reports. HC Wainwright reaffirmed a "buy" rating and issued a $7.00 target price on shares of Connect Biopharma in a research report on Wednesday, August 13th. Northland Capmk raised Connect Biopharma to a "strong-buy" rating in a research report on Tuesday, July 22nd. Finally, Wall Street Zen raised Connect Biopharma to a "hold" rating in a research report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $7.00.

Connect Biopharma Trading Up 2.2%

CNTB stock traded up $0.04 during midday trading on Wednesday, hitting $1.82. 102,564 shares of the company traded hands, compared to its average volume of 92,144. Connect Biopharma has a twelve month low of $0.51 and a twelve month high of $2.86. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.01. The business has a 50 day simple moving average of $1.81 and a 200-day simple moving average of $1.27.

Hedge Funds Weigh In On Connect Biopharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd acquired a new position in shares of Connect Biopharma in the 2nd quarter valued at approximately $29,000. AlphaCore Capital LLC bought a new stake in Connect Biopharma in the 2nd quarter valued at approximately $78,000. Finally, Koa Wealth Management LLC bought a new stake in Connect Biopharma in the 2nd quarter valued at approximately $49,000. Institutional investors 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.

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