James Huang Purchases 150,000 Shares of Connect Biopharma (NASDAQ:CNTB) Stock

Connect Biopharma Holdings Limited Sponsored ADR (NASDAQ:CNTB) Director James Huang acquired 150,000 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was purchased at an average price of $2.48 per share, with a total value of $372,000.00. Following the acquisition, the director owned 13,310,000 shares of the company’s stock, valued at $33,008,800. This represents a 1.14% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

James Huang also recently made the following trade(s):

• On Tuesday, March 31st, James Huang acquired 1,160,000 shares of Connect Biopharma stock. The stock was purchased at an average price of $3.45 per share, with a total value of $4,002,000.00.

Connect Biopharma Price Performance

CNTB opened at $2.23 on Thursday. The stock has a fifty day simple moving average of $2.63 and a two-hundred day simple moving average of $2.59. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 0.01. The company has a market cap of $140.40 million, a price-to-earnings ratio of -1.94 and a beta of -0.22. Connect Biopharma Holdings Limited Sponsored ADR has a 12-month low of $0.73 and a 12-month high of $3.82.

Connect Biopharma (NASDAQ:CNTB) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.05). The business had revenue of $0.02 million during the quarter. Research analysts predict that Connect Biopharma Holdings Limited Sponsored ADR will post -1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Connect Biopharma

A number of institutional investors have recently modified their holdings of the stock. XTX Topco Ltd purchased a new stake in shares of Connect Biopharma during the second quarter valued at $29,000. SmartHarvest Portfolios LLC purchased a new stake in shares of Connect Biopharma during the fourth quarter valued at $36,000. Bank of America Corp DE purchased a new stake in shares of Connect Biopharma during the first quarter valued at $41,000. HRT Financial LP boosted its position in shares of Connect Biopharma by 60.5% during the fourth quarter. HRT Financial LP now owns 16,785 shares of the company’s stock valued at $47,000 after buying an additional 6,328 shares during the last quarter. Finally, Persistent Asset Partners Ltd purchased a new stake in shares of Connect Biopharma during the fourth quarter valued at $76,000. 58.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on CNTB. Wall Street Zen cut Connect Biopharma from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Canaccord Genuity Group began coverage on Connect Biopharma in a research note on Tuesday, May 26th. They issued a “buy” rating and a $6.00 target price on the stock. Cantor Fitzgerald began coverage on Connect Biopharma in a research note on Thursday, May 21st. They issued an “overweight” rating and a $4.00 target price on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Connect Biopharma in a research note on Monday, May 4th. Finally, BTIG Research reissued a “buy” rating and issued a $10.00 target price on shares of Connect Biopharma in a research note on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $7.20.

About Connect Biopharma

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.