Connect Biopharma Holdings Limited [CNTB] Stock trading around $0.82 per share: What’s Next?


Connect Biopharma Holdings Limited [NASDAQ: CNTB] price plunged by -57.72 percent to reach at -$1.12. The company report on May 3, 2022 that Connect Biopharma Announces Week 12 Top-Line Results from Phase 2 CBP-307 Trial in Patients with Moderate-to-Severe Ulcerative Colitis.

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Primary endpoint of change from baseline on adapted Mayo Score for CBP-307 0.2 mg once-daily, orally administered dose showed a numerical improvement, but did not achieve statistical significance .

Clinical Remission on adapted Mayo Score and other secondary endpoints achieved statistical significance with strong evidence of pharmacodynamic activity as measured by reduction in lymphocyte counts, and CBP-307 was observed to be generally well tolerated.

A sum of 4673822 shares traded at recent session while its average daily volume was at 78.17K shares. Connect Biopharma Holdings Limited shares reached a high of $1.38 and dropped to a low of $0.7812 until finishing in the latest session at $0.82.

The one-year CNTB stock forecast points to a potential upside of 96.47. The average equity rating for CNTB stock is currently 1.50, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Connect Biopharma Holdings Limited [CNTB]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CNTB shares is $23.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CNTB stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

SVB Leerink have made an estimate for Connect Biopharma Holdings Limited shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on April 13, 2021. While these analysts kept the previous recommendation, Piper Sandler raised their target price to Overweight. The new note on the price target was released on April 13, 2021, representing the official price target for Connect Biopharma Holdings Limited stock. Previously, the target price had yet another raise to $27, while Jefferies analysts kept a Buy rating on CNTB stock.

The Average True Range (ATR) for Connect Biopharma Holdings Limited is set at 0.26 The Price to Book ratio for the last quarter was 0.02.

CNTB Stock Performance Analysis:

Connect Biopharma Holdings Limited [CNTB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -63.87. With this latest performance, CNTB shares dropped by -74.76% in over the last four-week period, additionally sinking by -94.81% over the last 6 months – not to mention a drop of -95.12% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CNTB stock in for the last two-week period is set at 18.70, with the RSI for the last a single of trading hit 11.50, and the three-weeks RSI is set at 24.55 for Connect Biopharma Holdings Limited [CNTB]. The present Moving Average for the last 50 days of trading for this stock 3.1090, while it was recorded at 1.7300 for the last single week of trading, and 10.9671 for the last 200 days.

Insight into Connect Biopharma Holdings Limited Fundamentals:

Return on Equity for this stock declined to -350.47, with Return on Assets sitting at -88.67.

Connect Biopharma Holdings Limited [CNTB] Insider Position Details

Positions in Connect Biopharma Holdings Limited stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 21 institutional holders increased their position in Connect Biopharma Holdings Limited [NASDAQ:CNTB] by around 3,038,339 shares. Additionally, 13 investors decreased positions by around 5,476,317 shares, while 2 investors held positions by with 8,445,180 shares. The mentioned changes placed institutional holdings at 16,959,836 shares, according to the latest SEC report filing. CNTB stock had 16 new institutional investments in for a total of 2,718,706 shares, while 7 institutional investors sold positions of 3,412,178 shares during the same period.