ContraFect Corp. (CFRX) Coverage Initiated at William Blair
Research analysts at William Blair began coverage on shares of ContraFect Corp. (NASDAQ:CFRX) in a research note issued on Wednesday. The firm set an “outperform” rating on the stock.
A number of other research analysts have also recently commented on CFRX. Maxim Group cut ContraFect Corp. from a “buy” rating to a “hold” rating in a research note on Friday, July 22nd. Piper Jaffray Cos. assumed coverage on ContraFect Corp. in a research note on Thursday, July 28th. They set an “overweight” rating on the stock.
Shares of ContraFect Corp. (NASDAQ:CFRX) opened at 2.43 on Wednesday. ContraFect Corp. has a 52-week low of $2.10 and a 52-week high of $5.35. The firm’s market capitalization is $100.94 million. The firm’s 50-day moving average price is $2.38 and its 200-day moving average price is $2.88.
ContraFect Corp. (NASDAQ:CFRX) last issued its quarterly earnings data on Tuesday, August 9th. The company reported ($0.35) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.27) by $0.08. On average, equities analysts predict that ContraFect Corp. will post ($1.01) earnings per share for the current fiscal year.
In related news, CEO Steven C. Gilman acquired 20,000 shares of ContraFect Corp. stock in a transaction on Wednesday, July 27th. The shares were bought at an average price of $2.48 per share, for a total transaction of $49,600.00. Following the completion of the purchase, the chief executive officer now directly owns 20,000 shares in the company, valued at approximately $49,600. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 15.00% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. BlackRock Fund Advisors raised its stake in shares of ContraFect Corp. by 41.9% in the second quarter. BlackRock Fund Advisors now owns 57,923 shares of the company’s stock worth $167,000 after buying an additional 17,092 shares during the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of ContraFect Corp. during the second quarter worth about $578,000. Cormorant Asset Management LLC raised its stake in shares of ContraFect Corp. by 256.0% in the first quarter. Cormorant Asset Management LLC now owns 834,406 shares of the company’s stock worth $2,837,000 after buying an additional 600,000 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its stake in shares of ContraFect Corp. by 50.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,500,000 shares of the company’s stock worth $5,100,000 after buying an additional 500,000 shares during the last quarter. 13.55% of the stock is currently owned by institutional investors and hedge funds.
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