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

Key Points

• Connect Biopharma's stock has been given a reaffirmed "sell (D-)" rating by Weiss Ratings, indicating concerns over its performance.
• Despite the sell rating, HC Wainwright and Northland Capital Markets have positive views, issuing a "buy" and "strong-buy" rating, respectively.
• The stock currently trades at $1.70, with a consensus target price of $7.00 suggesting potential upside based on analyst ratings.

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

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

Connect Biopharma Stock Performance

Shares of NASDAQ CNTB traded up $0.08 during midday trading on Friday, reaching $1.70. The company had a trading volume of 31,878 shares, compared to its average volume of 97,577. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.01. Connect Biopharma has a 1 year low of $0.51 and a 1 year high of $2.86. The business's 50-day simple moving average is $1.72 and its 200 day simple moving average is $1.36.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CNTB. XTX Topco Ltd acquired a new position in shares of Connect Biopharma in the 2nd quarter valued at $29,000. Koa Wealth Management LLC acquired a new position in Connect Biopharma in the second quarter valued at $49,000. Finally, AlphaCore Capital LLC acquired a new position in Connect Biopharma in the second quarter valued at $78,000. 58.72% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.