ContraFect (NASDAQ:CFRX) Stock Rating Lowered by StockNews.com

Posted by on Jun 21st, 2023

ContraFect (NASDAQ:CFRX – Get Rating) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

Separately, Maxim Group upgraded ContraFect from a “hold” rating to a “buy” rating and set a $3.00 target price for the company in a research report on Thursday, April 13th.

ContraFect Trading Down 3.9 %

Shares of NASDAQ CFRX opened at $1.71 on Wednesday. The firm has a fifty day simple moving average of $1.63 and a two-hundred day simple moving average of $4.07. The firm has a market capitalization of $2.68 million, a PE ratio of -0.02 and a beta of 0.42. ContraFect has a 12 month low of $0.90 and a 12 month high of $292.80.

ContraFect (NASDAQ:CFRX – Get Rating) last issued its quarterly earnings data on Monday, May 15th. The biotechnology company reported ($0.69) earnings per share for the quarter, topping the consensus estimate of ($10.83) by $10.14. On average, sell-side analysts predict that ContraFect will post -6.75 earnings per share for the current year.

Institutional Trading of ContraFect

Several large investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC grew its position in ContraFect by 48.9% in the 4th quarter. Virtu Financial LLC now owns 271,242 shares of the biotechnology company’s stock valued at $26,000 after acquiring an additional 89,069 shares in the last quarter. Two Sigma Investments LP purchased a new position in shares of ContraFect in the 3rd quarter valued at about $39,000. Envestnet Asset Management Inc. purchased a new stake in ContraFect during the first quarter worth approximately $41,000. Renaissance Technologies LLC lifted its stake in ContraFect by 277.2% in the fourth quarter. Renaissance Technologies LLC now owns 477,900 shares of the biotechnology company’s stock valued at $46,000 after buying an additional 351,200 shares during the last quarter. Finally, Armistice Capital LLC purchased a new stake in ContraFect in the fourth quarter valued at approximately $393,000. 14.37% of the stock is currently owned by hedge funds and other institutional investors.

ContraFect Company Profile

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ContraFect Corporation, a clinical-stage biotechnology company, discovers and develops therapeutic protein and antibody products for the treatment of life-threatening and drug-resistant infectious diseases in the United States. Its lead program includes Exebacase, a lysin, which is in Phase III clinical trials for the treatment of staphylococcus aureus.

Further Reading

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