ContraFect (NASDAQ:CFRX) Stock Crosses Above Fifty Day Moving Average of $0.45

ContraFect Corp (NASDAQ:CFRX)’s stock price crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $0.45 and traded as high as $0.39. ContraFect shares last traded at $0.37, with a volume of 4,327 shares trading hands.

CFRX has been the subject of several recent analyst reports. Maxim Group initiated coverage on ContraFect in a research report on Tuesday, June 11th. They set a “buy” rating for the company. Chardan Capital restated a “buy” rating and set a $1.50 target price on shares of ContraFect in a research report on Wednesday, May 15th. Finally, ValuEngine upgraded ContraFect from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st.

The company has a debt-to-equity ratio of 0.37, a current ratio of 4.15 and a quick ratio of 4.15. The stock has a market cap of $30.18 million, a PE ratio of -1.03 and a beta of 0.07. The business has a fifty day moving average of $0.45 and a 200-day moving average of $0.46.

Several hedge funds and other institutional investors have recently made changes to their positions in CFRX. Oracle Investment Management Inc. boosted its holdings in shares of ContraFect by 13.1% in the second quarter. Oracle Investment Management Inc. now owns 6,356,649 shares of the biotechnology company’s stock valued at $3,242,000 after purchasing an additional 735,450 shares during the period. SG Americas Securities LLC purchased a new stake in shares of ContraFect in the second quarter valued at approximately $343,000. White Pine Capital LLC boosted its holdings in shares of ContraFect by 207.9% in the first quarter. White Pine Capital LLC now owns 907,430 shares of the biotechnology company’s stock valued at $361,000 after purchasing an additional 612,700 shares during the period. Trellus Management Company LLC purchased a new stake in shares of ContraFect in the second quarter valued at approximately $295,000. Finally, Hartwell J M Limited Partnership boosted its holdings in shares of ContraFect by 40.0% in the second quarter. Hartwell J M Limited Partnership now owns 140,000 shares of the biotechnology company’s stock valued at $71,000 after purchasing an additional 40,000 shares during the period. Hedge funds and other institutional investors own 39.15% of the company’s stock.

ContraFect Company Profile (NASDAQ:CFRX)

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.

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