Connect Biopharma (NASDAQ:CNTB) Receives Overweight Rating from Cantor Fitzgerald

Connect Biopharma (NASDAQ:CNTB)‘s stock had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $5.00 target price on the stock.

Connect Biopharma Price Performance

Shares of Connect Biopharma stock traded down $0.01 during trading hours on Wednesday, reaching $0.75. 1,851 shares of the company’s stock were exchanged, compared to its average volume of 260,736. The business has a fifty day moving average of $0.95 and a two-hundred day moving average of $1.06. Connect Biopharma has a 1 year low of $0.62 and a 1 year high of $1.58.

Institutional Trading of Connect Biopharma

Several large investors have recently added to or reduced their stakes in CNTB. Citadel Advisors LLC acquired a new position in shares of Connect Biopharma during the 2nd quarter valued at about $357,000. UBS Group AG boosted its holdings in Connect Biopharma by 5,552.1% in the 2nd quarter. UBS Group AG now owns 105,185 shares of the company’s stock valued at $91,000 after purchasing an additional 103,324 shares during the last quarter. BlackRock Inc. grew its stake in shares of Connect Biopharma by 4.3% in the 1st quarter. BlackRock Inc. now owns 2,236,392 shares of the company’s stock valued at $6,755,000 after buying an additional 92,632 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Connect Biopharma by 1,312.7% during the 1st 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 last quarter. Finally, Woodline Partners LP purchased a new stake in shares of Connect Biopharma during the 1st quarter valued at approximately $132,000. 18.82% of the stock is currently owned by hedge funds and other institutional investors.

About Connect Biopharma

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.