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Connect Biopharma Holdings Ltd. (CNTB) stock has reached a new 52-week low, trading at $0.76, significantly below analyst targets ranging from $6 to $8. This latest price point marks a significant downturn for the biopharmaceutical company, which specializes in developing therapies for immune diseases. The company maintains strong financial health with a current ratio of 12.04, indicating robust short-term liquidity. Over the past year, Connect Biopharma’s stock has experienced a steep decline, with a 1-year change showing a decrease of -54.37%. The stock’s beta of -0.47 indicates it often moves contrary to market trends. According to InvestingPro analysis, while the company is quickly burning through cash, it maintains more cash than debt on its balance sheet. This downturn reflects investor concerns and market reactions to the company’s performance and prospects within the competitive biotech industry. For deeper insights and additional ProTips, explore InvestingPro.
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