Key Points
- Director James Huang purchased 1,160,000 shares at an average of $3.45 per share (totaling $4,002,000) and now holds 13,160,000 shares, a 9.67% increase in his position, per an SEC filing.
- CNTB stock jumped about 9.9% after the quarter where the company reported EPS of ($0.27), beating estimates of ($0.30); the stock has a market cap of roughly $169 million.
- Analysts have a consensus rating of “Moderate Buy” with a consensus target price of $8.67 (BTIG has a $10 target while opinions range from Sell to Strong Buy).
Connect Biopharma Holdings Limited Sponsored ADR (NASDAQ:CNTB - Get Free Report) Director James Huang acquired 1,160,000 shares of the business's stock in a transaction on Tuesday, March 31st. The shares were purchased at an average price of $3.45 per share, with a total value of $4,002,000.00. Following the transaction, the director owned 13,160,000 shares in the company, valued at $45,402,000. The trade was a 9.67% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Connect Biopharma Stock Up 9.9%
CNTB stock opened at $2.99 on Friday. The stock has a market capitalization of $168.99 million, a PE ratio of -2.99 and a beta of -0.21. The company has a fifty day moving average of $2.70 and a 200-day moving average of $2.32. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.48 and a current ratio of 5.48. Connect Biopharma Holdings Limited Sponsored ADR has a one year low of $0.51 and a one year high of $3.82.
Connect Biopharma (NASDAQ:CNTB - Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.30) by $0.03. The firm had revenue of ($0.05) million for the quarter, compared to analyst estimates of $0.00 million. As a group, analysts expect that Connect Biopharma Holdings Limited Sponsored ADR will post -0.22 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SmartHarvest Portfolios LLC acquired a new position in Connect Biopharma during the fourth quarter worth about $36,000. HRT Financial LP lifted its position in shares of Connect Biopharma by 60.5% during the 4th quarter. HRT Financial LP now owns 16,785 shares of the company's stock valued at $47,000 after acquiring an additional 6,328 shares during the period. Persistent Asset Partners Ltd purchased a new stake in shares of Connect Biopharma during the 4th quarter worth approximately $76,000. XTX Topco Ltd acquired a new stake in shares of Connect Biopharma in the 2nd quarter worth approximately $29,000. Finally, Royal Bank of Canada acquired a new stake in shares of Connect Biopharma in the 4th quarter worth approximately $114,000. 58.72% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
CNTB has been the subject of a number of analyst reports. BTIG Research reissued a "buy" rating and set a $10.00 target price on shares of Connect Biopharma in a research note on Tuesday. Weiss Ratings restated a "sell (d-)" rating on shares of Connect Biopharma in a research note on Wednesday, January 21st. Finally, Wall Street Zen raised Connect Biopharma to a "hold" rating in a report on Saturday, December 20th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Connect Biopharma has a consensus rating of "Moderate Buy" and a consensus target price of $8.67.
Read Our Latest Stock Report on Connect Biopharma
About Connect Biopharma
(
Get Free Report)
Connect Biopharma Holdings Ltd. is a clinical-stage biopharmaceutical company focused on the discovery and development of monoclonal antibody therapies for immune-mediated disorders. Headquartered in Singapore with a research and commercial presence in the United States, the company applies proprietary technology platforms to target novel pathways in inflammatory and autoimmune diseases.
The company's lead product candidate, CBP-201, is a fully human monoclonal antibody that antagonizes the interleukin-31 receptor, a key mediator of chronic pruritus in conditions such as atopic dermatitis and prurigo nodularis.
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