ContraFect (NASDAQ:CFRX) Coverage Initiated at StockNews.com

Research analysts at StockNews.com initiated coverage on shares of ContraFect (NASDAQ:CFRX) in a research report issued on Saturday. The brokerage set a “sell” rating on the biotechnology company’s stock.

ContraFect Stock Performance

Shares of ContraFect stock opened at $0.76 on Friday. The firm has a fifty day moving average of $1.06 and a two-hundred day moving average of $1.59. The stock has a market capitalization of $8.10 million, a price-to-earnings ratio of -0.01 and a beta of 0.49. ContraFect has a 52 week low of $0.69 and a 52 week high of $20.00.

ContraFect (NASDAQ:CFRX) last released its earnings results on Monday, August 14th. The biotechnology company reported ($1.94) earnings per share for the quarter, missing the consensus estimate of ($1.81) by ($0.13). As a group, research analysts forecast that ContraFect will post -3.44 EPS for the current fiscal year.

Hedge Funds Weigh In On ContraFect

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Virtu Financial LLC raised its stake in ContraFect by 48.9% during the 4th quarter. Virtu Financial LLC now owns 271,242 shares of the biotechnology company’s stock worth $26,000 after buying an additional 89,069 shares during the period. Two Sigma Investments LP acquired a new stake in shares of ContraFect during the third quarter worth about $39,000. Envestnet Asset Management Inc. acquired a new position in shares of ContraFect in the 1st quarter valued at approximately $41,000. Renaissance Technologies LLC increased its stake in ContraFect by 277.2% during the 4th quarter. Renaissance Technologies LLC now owns 477,900 shares of the biotechnology company’s stock worth $46,000 after purchasing an additional 351,200 shares in the last quarter. Finally, Armistice Capital LLC bought a new position in ContraFect in the fourth quarter valued at approximately $393,000. 7.85% of the stock is owned by institutional investors.

ContraFect Company Profile

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.