HC Wainwright Reiterates Buy Rating for Connect Biopharma (NASDAQ:CNTB)

Connect Biopharma (NASDAQ:CNTB)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a research report issued on Friday, Benzinga reports. They presently have a $8.00 price objective on the stock.

Connect Biopharma Price Performance

Shares of NASDAQ:CNTB opened at $1.25 on Friday. The stock’s 50-day simple moving average is $1.22 and its two-hundred 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 Trading of Connect Biopharma

A hedge fund recently raised its stake in Connect Biopharma stock. Keudell Morrison Wealth Management grew its holdings in shares of Connect Biopharma Holdings Limited (NASDAQ:CNTB) by 63.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,200 shares of the company’s stock after acquiring an additional 12,500 shares during the period. Keudell Morrison Wealth Management owned about 0.06% of Connect Biopharma worth $49,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 58.72% of the company’s stock.

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.