Fintel reports that on March 4, 2024, HC Wainwright & Co. initiated coverage of Connect Biopharma Holdings Limited - Depositary Receipt () (NasdaqGM:CNTB) with a Buy recommendation.
Analyst Price Forecast Suggests 337.14% Upside
As of February 24, 2024, the average one-year price target for Connect Biopharma Holdings Limited - Depositary Receipt () is 6.12. The forecasts range from a low of 6.06 to a high of $6.30. The average price target represents an increase of 337.14% from its latest reported closing price of 1.40.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Connect Biopharma Holdings Limited - Depositary Receipt () is 0MM. The projected annual non-GAAP EPS is -14.49.
What is the Fund Sentiment?
There are 22 funds or institutions reporting positions in Connect Biopharma Holdings Limited - Depositary Receipt (). This is unchanged over the last quarter. Average portfolio weight of all funds dedicated to CNTB is 0.10%, an increase of 679.58%. Total shares owned by institutions decreased in the last three months by 29.37% to 7,119K shares. 
The put/call ratio of CNTB is 0.00, indicating a bullish outlook.
What are Other Shareholders Doing?
Ra Capital Management holds 3,063K shares representing 5.56% ownership of the company. In it's prior filing, the firm reported owning 6,991K shares, representing a decrease of 128.25%. The firm decreased its portfolio allocation in CNTB by 50.29% over the last quarter.
BML Capital Management holds 2,061K shares representing 3.74% ownership of the company.
BlackRock Health Sciences Trust II holds 1,040K shares representing 1.89% ownership of the company. In it's prior filing, the firm reported owning 1,125K shares, representing a decrease of 8.19%. The firm increased its portfolio allocation in CNTB by 33.92% over the last quarter.
Ubs Oconnor holds 561K shares representing 1.02% ownership of the company. In it's prior filing, the firm reported owning 604K shares, representing a decrease of 7.61%. The firm increased its portfolio allocation in CNTB by 303.40% over the last quarter.
Renaissance Technologies holds 298K shares representing 0.54% ownership of the company. In it's prior filing, the firm reported owning 97K shares, representing an increase of 67.45%. The firm increased its portfolio allocation in CNTB by 304.51% over the last quarter.
Connect Biopharma Holdings Background Information
(This description is provided by the company.)
Connect Biopharma Holdings Limited is a global clinical-stage biopharmaceutical company dedicated to improving the lives of patients living with chronic inflammatory diseases through the development of therapies derived from its T cell-driven research. Its lead product candidate, CBP-201, is an antibody designed to target interleukin-4 receptor alpha (IL-4Rα), which is a validated target for the treatment of several inflammatory diseases such as atopic dermatitis (AD) and asthma. Its second lead product candidate is CBP-307, a modulator of a T cell receptor known as sphingosine 1-phosphate receptor 1 (S1P1).
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