Connect Biopharma (NASDAQ:CNTB) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Connect Biopharma (NASDAQ:CNTB) in a research report sent to investors on Friday morning, Benzinga reports. They currently have a $8.00 price target on the stock.

Connect Biopharma Price Performance

Shares of NASDAQ CNTB opened at $1.25 on Friday. The business’s 50-day simple moving average is $1.22 and its 200-day simple moving average is $1.42. Connect Biopharma has a 52 week low of $0.53 and a 52 week high of $2.84.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Connect Biopharma stock. Keudell Morrison Wealth Management boosted its position in shares of Connect Biopharma Holdings Limited (NASDAQ:CNTB) by 75.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,700 shares of the company’s stock after acquiring an additional 8,500 shares during the period. Keudell Morrison Wealth Management’s holdings in Connect Biopharma were worth $34,000 at the end of the most recent quarter. 58.72% of the stock is owned by hedge funds and other institutional investors.

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.