Connect Biopharma (NASDAQ:CNTB) Receives “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Connect Biopharma (NASDAQ:CNTB) in a report issued on Monday morning,Benzinga reports. The firm currently has a $8.00 price objective on the stock.

Connect Biopharma Trading Down 19.1 %

Shares of NASDAQ:CNTB opened at $0.55 on Monday. The stock has a 50 day moving average of $0.89 and a 200 day moving average of $1.06. Connect Biopharma has a 12-month low of $0.55 and a 12-month high of $2.66.

Institutional Trading of Connect Biopharma

Several institutional investors and hedge funds have recently modified their holdings of CNTB. Catalina Capital Group LLC purchased a new stake in Connect Biopharma in the 4th quarter worth $66,000. Callan Capital LLC boosted its stake in shares of Connect Biopharma by 91.3% in the fourth quarter. Callan Capital LLC now owns 80,000 shares of the company’s stock worth $110,000 after acquiring an additional 38,177 shares during the period. Finally, Choreo LLC purchased a new stake in shares of Connect Biopharma during the fourth quarter worth about $204,000. 58.72% of the stock is currently owned by institutional investors.

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.