ValuEngine Downgrades ContraFect (CFRX) to Hold
ContraFect (NASDAQ:CFRX) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Thursday.
NASDAQ:CFRX opened at $2.15 on Thursday. The firm has a market capitalization of $165.17 million, a PE ratio of -5.81 and a beta of -0.33. ContraFect has a twelve month low of $0.87 and a twelve month high of $2.93.
ContraFect (NASDAQ:CFRX) last released its quarterly earnings data on Thursday, November 8th. The biotechnology company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.04. On average, analysts expect that ContraFect will post -0.37 earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the business. Trellus Management Company LLC increased its stake in ContraFect by 88.8% during the 3rd quarter. Trellus Management Company LLC now owns 83,955 shares of the biotechnology company’s stock valued at $174,000 after purchasing an additional 39,492 shares in the last quarter. Acadian Asset Management LLC bought a new stake in ContraFect during the 2nd quarter valued at $111,000. Renaissance Technologies LLC increased its stake in ContraFect by 40.6% during the 2nd quarter. Renaissance Technologies LLC now owns 200,500 shares of the biotechnology company’s stock valued at $443,000 after purchasing an additional 57,900 shares in the last quarter. JPMorgan Chase & Co. increased its stake in ContraFect by 108.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 167,182 shares of the biotechnology company’s stock valued at $346,000 after purchasing an additional 86,848 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in ContraFect by 24.2% during the 3rd quarter. Vanguard Group Inc. now owns 2,634,428 shares of the biotechnology company’s stock valued at $5,454,000 after purchasing an additional 512,940 shares in the last quarter. Institutional investors and hedge funds own 57.34% of the company’s stock.
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 is in Phase II human clinical trials for the treatment of Staphylococcus aureus bacteremia, including endocarditis caused by methicillin-resistant or methicillin-susceptible; and CF-404, a combination of monoclonal antibodies (mAbs), which is in preclinical trial stage for the treatment of life-threatening seasonal and pandemic varieties of human influenza.
See Also: Why do companies issue stock splits?
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for ContraFect Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ContraFect and related companies with MarketBeat.com's FREE daily email newsletter.