Connect Biopharma Holdings Limited to Post FY2023 Earnings of ($2.11) Per Share, Cantor Fitzgerald Forecasts (NASDAQ:CNTB)

Connect Biopharma Holdings Limited (NASDAQ:CNTB – Get Rating) – Investment analysts at Cantor Fitzgerald issued their FY2023 earnings estimates for shares of Connect Biopharma in a note issued to investors on Monday, June 6th. Cantor Fitzgerald analyst L. Chen forecasts that the company will earn ($2.11) per share for the year. Cantor Fitzgerald currently has a “Overweight” rating on the stock.

Several other research firms have also weighed in on CNTB. SVB Leerink initiated coverage on Connect Biopharma in a research report on Friday, April 1st. They set a “buy” rating and a $22.00 price target on the stock. Zacks Investment Research downgraded Connect Biopharma from a “buy” rating to a “hold” rating in a research note on Wednesday, April 6th. Finally, Piper Sandler cut Connect Biopharma from an “overweight” rating to a “neutral” rating in a report on Thursday, May 5th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $19.44.

Shares of Connect Biopharma stock opened at $0.84 on Wednesday. The stock’s fifty day moving average is $1.76 and its 200-day moving average is $3.46. Connect Biopharma has a 12-month low of $0.56 and a 12-month high of $29.27.

Several large investors have recently modified their holdings of CNTB. Vident Investment Advisory LLC acquired a new position in Connect Biopharma during the first quarter valued at approximately $55,000. Renaissance Technologies LLC purchased a new stake in Connect Biopharma in the 4th quarter valued at about $56,000. Goldman Sachs Group Inc. purchased a new stake in shares of Connect Biopharma during the 4th quarter worth approximately $61,000. Chicago Partners Investment Group LLC bought a new position in Connect Biopharma in the 4th quarter worth approximately $97,000. Finally, Ensign Peak Advisors Inc bought a new position in Connect Biopharma in the 4th quarter worth approximately $131,000. Institutional investors own 34.21% of the company’s stock.

Connect Biopharma Company Profile (Get Rating)

Connect Biopharma Holdings Limited, a clinical-stage biopharmaceutical company, focuses on the discovery and development of immune modulators for the treatment of serious autoimmune diseases and inflammation. The company's lead product candidate is CBP-201, an anti-interleukin-4 receptor alpha antibody, which is in Phase IIb clinical trial for the treatment of inflammatory allergic diseases, such as atopic dermatitis, asthma, and chronic rhinosinusitis with nasal polyps.

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