In the latest trading session, 3.23 million Connect Biopharma Holdings Ltd ADR (NASDAQ:CNTB) shares changed hands as the company’s beta touched -0.22. With the company’s most recent per share price at $1.51 changed hands at -$0.55 or -26.70% at last look, the market valuation stands at $83.15M. CNTB’s current price is a discount, trading about -88.08% off its 52-week high of $2.84. The share price had its 52-week low at $0.53, which suggests the last value was 64.9% up since then. When we look at Connect Biopharma Holdings Ltd ADR’s average trading volume, we note the 10-day average is 99980.0 shares, with the 3-month average coming to 66.97K.
Analysts gave the Connect Biopharma Holdings Ltd ADR (CNTB) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.00. If we narrow down to specifics, the data shows that 0 out of 1 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended CNTB as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. Connect Biopharma Holdings Ltd ADR’s EPS for the current quarter is expected to be $0.
Connect Biopharma Holdings Ltd ADR (NASDAQ:CNTB) trade information
Instantly CNTB was in red as seen in intraday trades today. With action -15.65%, the performance over the past five days has been red. The drop to weekly highs of 2.84 on Monday, 11/20/23 subtracted -26.70% to the stock’s daily price. The company’s shares are showing year-to-date upside of 73.99%, with the 5-day performance at -15.65% in the red. However, in the 30-day time frame, Connect Biopharma Holdings Ltd ADR (NASDAQ:CNTB) is 46.58% up. Looking at the short shares, we see there were 29370.0 shares sold at short interest cover period of 0.32 days.
The consensus price target for the stock as assigned by Wall Street analysts is $50.96, meaning bulls need an upside of 97.04% from its recent market value. According to analyst projections, CNTB’s forecast low is $50.96 with $50.96 as the target high. To hit the forecast high, the stock’s price needs a -3274.83% plunge from its current level, while the stock would need to soar -3274.83% for it to hit the projected low.
Connect Biopharma Holdings Ltd ADR (CNTB) estimates and forecasts
Data shows that the Connect Biopharma Holdings Ltd ADR share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 29.05% over the past 6 months, a 47.14% in annual growth rate that is considerably higher than the industry average of 14.80%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -80.56%. The 2023 estimates are for Connect Biopharma Holdings Ltd ADR earnings to increase by 45.17%.
Connect Biopharma Holdings Ltd ADR is expected to release its next quarterly earnings report on September 12.
Connect Biopharma Holdings Ltd ADR (NASDAQ:CNTB)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 39.86% of Connect Biopharma Holdings Ltd ADR shares while 39.87% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 66.29%. There are 39.87% institutions holding the Connect Biopharma Holdings Ltd ADR stock share, with RA Capital Management, L.P. the top institutional holder. As of Jun 29, 2023, the company held 12.69% of the shares, roughly 6.99 million CNTB shares worth $7.9 million.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 2.04% or 1.13 million shares worth $1.27 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were BlackRock Health Sciences Term Trust and Fidelity NASDAQ Composite Index Fund. With 1.13 million shares estimated at $1.27 million under it, the former controlled 2.04% of total outstanding shares. On the other hand, Fidelity NASDAQ Composite Index Fund held about 0.03% of the shares, roughly 19032.0 shares worth around $20626.0.