Connect Biopharma (NASDAQ:CNTB) Price Target Raised to $8.00 at HC Wainwright

Connect Biopharma (NASDAQ:CNTB) had its target price upped by HC Wainwright from $7.00 to $8.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Connect Biopharma Stock Performance

CNTB opened at $1.55 on Wednesday. Connect Biopharma has a 12 month low of $0.53 and a 12 month high of $2.84. The business has a 50-day moving average of $1.43 and a two-hundred day moving average of $1.27.

Institutional Investors Weigh In On Connect Biopharma

Several large investors have recently made changes to their positions in CNTB. BML Capital Management LLC purchased a new stake in Connect Biopharma during the 4th quarter worth $2,432,000. JPMorgan Chase & Co. boosted its position in shares of Connect Biopharma by 1,312.7% in the first quarter. JPMorgan Chase & Co. now owns 78,547 shares of the company’s stock worth $79,000 after buying an additional 72,987 shares during the period. Renaissance Technologies LLC grew its stake in shares of Connect Biopharma by 24.5% in the third quarter. Renaissance Technologies LLC now owns 83,300 shares of the company’s stock valued at $107,000 after buying an additional 16,400 shares in the last quarter. Citadel Advisors LLC purchased a new stake in shares of Connect Biopharma during the 2nd quarter valued at about $357,000. Finally, UBS Group AG lifted its position in Connect Biopharma by 5,552.1% during the 2nd quarter. UBS Group AG now owns 105,185 shares of the company’s stock worth $91,000 after acquiring an additional 103,324 shares in the last quarter. Institutional investors and hedge funds own 58.72% of the company’s stock.

Connect Biopharma Company Profile

Connect Biopharma Holdings Limited, a clinical-stage biopharmaceutical company, focuses on developing therapies to treat 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.