Connect Biopharma Holdings Limited (NASDAQ:CNTB – Get Rating) – Investment analysts at Cantor Fitzgerald lowered their FY2022 earnings per share estimates for shares of Connect Biopharma in a research report issued to clients and investors on Thursday, September 15th. Cantor Fitzgerald analyst L. Chen now expects that the company will post earnings of ($2.11) per share for the year, down from their prior forecast of ($2.10). Cantor Fitzgerald currently has a "Overweight" rating on the stock. The consensus estimate for Connect Biopharma's current full-year earnings is ($1.89) per share. Cantor Fitzgerald also issued estimates for Connect Biopharma's FY2023 earnings at ($2.11) EPS.
Get Connect Biopharma alerts:Connect Biopharma Stock Performance
Shares of NASDAQ CNTB opened at $1.44 on Monday. The stock's fifty day simple moving average is $1.22 and its 200 day simple moving average is $1.65. Connect Biopharma has a 52-week low of $0.56 and a 52-week high of $25.25.
Hedge Funds Weigh In On Connect Biopharma
A number of hedge funds have recently modified their holdings of the stock. Vident Investment Advisory LLC acquired a new position in shares of Connect Biopharma in the 1st quarter worth $55,000. Ensign Peak Advisors Inc acquired a new position in shares of Connect Biopharma in the 4th quarter worth $131,000. Invesco Ltd. grew its holdings in shares of Connect Biopharma by 135.9% in the 1st 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 last quarter. Renaissance Technologies LLC grew its holdings in shares of Connect Biopharma by 184.7% in the 2nd quarter. Renaissance Technologies LLC now owns 66,900 shares of the company's stock worth $58,000 after acquiring an additional 43,400 shares during the last quarter. Finally, Woodline Partners LP acquired a new stake in shares of Connect Biopharma in the first quarter worth $132,000. 27.19% of the stock is currently owned by institutional investors and hedge funds.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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