Zimmer Partners LP Invests $185,000 in Connect Biopharma Holdings Limited (NASDAQ:CNTB)

Zimmer Partners LP acquired a new stake in shares of Connect Biopharma Holdings Limited (NASDAQ:CNTB) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,000 shares of the company’s stock, valued at approximately $185,000.

A number of other large investors have also recently modified their holdings of CNTB. Federated Hermes Inc. purchased a new position in Connect Biopharma during the first quarter valued at approximately $740,000. Monashee Investment Management LLC purchased a new position in Connect Biopharma during the first quarter valued at approximately $2,035,000. RTW Investments LP purchased a new position in Connect Biopharma during the first quarter valued at approximately $8,325,000. Sphera Funds Management LTD. purchased a new position in Connect Biopharma during the first quarter valued at approximately $925,000. Finally, Pinz Capital Management LP purchased a new position in Connect Biopharma during the first quarter valued at approximately $797,000. 26.77% of the stock is owned by institutional investors.

CNTB stock traded down $0.27 during midday trading on Thursday, reaching $24.56. The company had a trading volume of 8,794 shares, compared to its average volume of 74,375. Connect Biopharma Holdings Limited has a 1 year low of $14.02 and a 1 year high of $25.00. The company’s 50-day moving average is $18.36.

Several brokerages recently commented on CNTB. Jefferies Financial Group began coverage on shares of Connect Biopharma in a research note on Tuesday, April 13th. They set a “buy” rating and a $27.00 price objective for the company. Piper Sandler began coverage on shares of Connect Biopharma in a research note on Tuesday, April 13th. They issued an “overweight” rating for the company. CICC Research began coverage on shares of Connect Biopharma in a research note on Friday, July 2nd. They issued an “outperform” rating and a $27.00 price target for the company. Finally, SVB Leerink began coverage on shares of Connect Biopharma in a research note on Tuesday, April 13th. They issued an “outperform” rating and a $32.00 price target for the company.

Connect Biopharma Profile

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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Institutional Ownership by Quarter for Connect Biopharma (NASDAQ:CNTB)

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