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

Connect Biopharma (NASDAQ:CNTB) had its target price lifted by HC Wainwright from $7.00 to $8.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price objective suggests a potential upside of 426.32% from the stock’s previous close.

Connect Biopharma Price Performance

Shares of CNTB opened at $1.52 on Wednesday. Connect Biopharma has a 12-month low of $0.53 and a 12-month high of $2.84. The firm has a fifty day moving average price of $1.44 and a 200-day moving average price of $1.27.

Institutional Trading of Connect Biopharma

A number of large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its stake in shares of Connect Biopharma by 24.5% during the third quarter. Renaissance Technologies LLC now owns 83,300 shares of the company’s stock valued at $107,000 after purchasing an additional 16,400 shares during the period. Vident Investment Advisory LLC purchased a new stake in Connect Biopharma in the first quarter worth about $55,000. Invesco Ltd. lifted its stake in Connect Biopharma by 135.9% in the first quarter. Invesco Ltd. now owns 60,449 shares of the company’s stock worth $183,000 after acquiring an additional 34,820 shares during the period. Woodline Partners LP purchased a new stake in Connect Biopharma in the first quarter worth about $132,000. Finally, JPMorgan Chase & Co. lifted its stake in 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 acquiring an additional 72,987 shares during the period. 58.72% of the stock is owned by hedge funds and other institutional investors.

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.