Connect Biopharma’s (CNTB) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Connect Biopharma (NASDAQ:CNTB) in a research note issued to investors on Monday,Benzinga reports. HC Wainwright currently has a $8.00 price target on the stock.

Connect Biopharma Price Performance

CNTB opened at $0.55 on Monday. The firm has a 50-day simple moving average of $0.89 and a two-hundred day simple moving average of $1.06. Connect Biopharma has a 52 week low of $0.55 and a 52 week high of $2.66.

Hedge Funds Weigh In On Connect Biopharma

Several institutional investors have recently added to or reduced their stakes in the company. Catalina Capital Group LLC bought a new position in shares of Connect Biopharma during the 4th quarter valued at approximately $66,000. Callan Capital LLC increased its position in 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 purchasing an additional 38,177 shares during the last quarter. Finally, Choreo LLC purchased a new stake in Connect Biopharma during the fourth quarter valued at $204,000. Hedge funds and other 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.