Shares of ContraFect Corp (NASDAQ:CFRX) traded up 12.1% on Friday . The company traded as high as $1.06 and last traded at $1.02. 554,374 shares traded hands during trading, an increase of 577% from the average session volume of 81,921 shares. The stock had previously closed at $0.91.

Several hedge funds have recently added to or reduced their stakes in the company. Fosun International Ltd acquired a new stake in shares of ContraFect during the third quarter worth approximately $9,435,000. 683 Capital Management LLC acquired a new stake in shares of ContraFect during the third quarter worth approximately $2,886,000. Birchview Capital LP grew its position in shares of ContraFect by 56.5% during the third quarter. Birchview Capital LP now owns 1,135,082 shares of the biotechnology company’s stock worth $1,260,000 after buying an additional 410,000 shares in the last quarter. Finally, White Pine Capital LLC grew its position in shares of ContraFect by 0.3% during the second quarter. White Pine Capital LLC now owns 253,870 shares of the biotechnology company’s stock worth $368,000 after buying an additional 825 shares in the last quarter. 62.47% of the stock is owned by institutional investors and hedge funds.

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ContraFect Company Profile

ContraFect Corporation, a clinical-stage biotechnology company, focuses on discovering and developing therapeutic protein and antibody products for the treatment of life-threatening infectious diseases in the United States. Its lead product candidates consist of CF-301, a lysin that completed Phase 1 human clinical trials for the treatment of Staph aureus bacteremia, including endocarditis caused by methicillin-resistant or methicillin-susceptible Staph aureus; and CF-404, a combination of human monoclonal antibodies (mAbs) for the treatment of life-threatening seasonal and pandemic varieties of human influenza.

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