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After The Stock Rose 3.77% Over The Week, Is Connect Biopharma Holdings Limited (NASDAQ: CNTB) Still A Buy?

Connect Biopharma Holdings Limited (NASDAQ:CNTB)’s traded shares stood at 0.89 million during the last session. At the close of trading, the stock’s price was $1.10, to imply a decrease of -3.51% or -$0.04 in intraday trading. The CNTB share’s 52-week high remains $4.95, putting it -350.0% down since that peak but still an impressive 49.09% since price per share fell to its 52-week low of $0.56. The company has a valuation of $60.52M, with an average of 24350.0 shares in intraday trading volume over the past 10 days and average of 45.49K shares over the past 3 months.

Analysts have given a consensus recommendation of a Buy for Connect Biopharma Holdings Limited (CNTB), translating to a mean rating of 1.70. Of 2 analyst(s) looking at the stock, 0 analyst(s) give CNTB a Sell rating. 0 of those analysts rate the stock as Overweight while 0 advise Hold as 2 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $0.

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Connect Biopharma Holdings Limited (NASDAQ:CNTB) trade information

After registering a -3.51% downside in the last session, Connect Biopharma Holdings Limited (CNTB) has traded red over the past five days. The stock hit a weekly high of 1.1900 this Friday, 03/17/23, dropping -3.51% in its intraday price action. The 5-day price performance for the stock is 3.77%, and 6.80% over 30 days. With these gigs, the year-to-date price performance is 26.76%. Short interest in Connect Biopharma Holdings Limited (NASDAQ:CNTB) saw shorts transact 0.11 million shares and set a 1.97 days time to cover.

Analysts on Wall Street suggest a consensus price target of $40.97, implying an increase of 97.32% to the stock’s current value. The extremes give us $34.43 and $47.51 for target low and target high price respectively. As such, CNTB has been trading -4219.09% off suggested target high and -3030.0% from its likely low.

Connect Biopharma Holdings Limited (CNTB) estimates and forecasts

Looking at statistics comparing Connect Biopharma Holdings Limited share performance against respective industry, we note that the company has outperformed competitors. Connect Biopharma Holdings Limited (CNTB) shares are -24.66% down over the last 6 months, with its year-to-date growth rate higher than industry average at 43.33% against 9.60%.

CNTB Dividends

Connect Biopharma Holdings Limited has its next earnings report out on September 13. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Connect Biopharma Holdings Limited has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

Connect Biopharma Holdings Limited (NASDAQ:CNTB)’s Major holders

Connect Biopharma Holdings Limited insiders hold 14.47% of total outstanding shares, with institutional holders owning 28.45% of the shares at 33.27% float percentage. In total, 28.45% institutions holds shares in the company, led by RA Capital Management, L.P. As of Sep 29, 2022, the company held over 6.99 million shares (or 12.69% of shares), all amounting to roughly $9.02 million.

The next major institution holding the largest number of shares is Blackrock Inc. with 1.43 million shares, or about 2.59% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $1.84 million.

We also have BlackRock Health Sciences Trust II and Fidelity NASDAQ Composite Index Fund as the top two Mutual Funds with the largest holdings of the Connect Biopharma Holdings Limited (CNTB) shares. Going by data provided on Sep 29, 2022, BlackRock Health Sciences Trust II holds roughly 1.13 million shares. This is just over 2.04% of the total shares, with a market valuation of $1.45 million. Data from the same date shows that the other fund manager holds a little less at 19032.0, or 0.03% of the shares, all valued at about 13803.0.

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