ContraFect Corp (NASDAQ:CFRX)’s share price was up 9.1% during mid-day trading on Tuesday . The stock traded as high as $0.48 and last traded at $0.48. Approximately 640,500 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 1,282,658 shares. The stock had previously closed at $0.44.
Separately, ValuEngine upgraded shares of ContraFect from a “hold” rating to a “buy” rating in a report on Tuesday, November 6th.
The stock has a market capitalization of $37.85 million, a PE ratio of -1.19 and a beta of -0.48.
In related news, major shareholder Fosun Pharmaceutical Shanghai sold 600,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 4th. The shares were sold at an average price of $2.04, for a total transaction of $1,224,000.00. Following the sale, the insider now directly owns 7,900,000 shares in the company, valued at approximately $16,116,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 6.70% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Federated Investors Inc. PA grew its holdings in shares of ContraFect by 6.8% during the 3rd quarter. Federated Investors Inc. PA now owns 6,407,500 shares of the biotechnology company’s stock valued at $13,264,000 after purchasing an additional 407,500 shares during the last quarter. Oracle Investment Management Inc. lifted its position in shares of ContraFect by 31.8% in the 3rd quarter. Oracle Investment Management Inc. now owns 4,250,384 shares of the biotechnology company’s stock worth $8,798,000 after purchasing an additional 1,025,651 shares during the period. Vanguard Group Inc. lifted its position in shares of ContraFect by 24.2% in the 3rd quarter. Vanguard Group Inc. now owns 2,634,428 shares of the biotechnology company’s stock worth $5,454,000 after purchasing an additional 512,940 shares during the period. Vanguard Group Inc lifted its position 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 acquiring an additional 512,940 shares during the period. Finally, AXA lifted its position in ContraFect by 196.0% during the 3rd quarter. AXA now owns 1,664,781 shares of the biotechnology company’s stock valued at $3,446,000 after acquiring an additional 1,102,264 shares during the period. 55.30% of the stock is currently owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION NOTICE: This news story was posted by The Lincolnian Online and is owned by of The Lincolnian Online. If you are reading this news story on another domain, it was illegally copied and reposted in violation of US & international trademark and copyright law. The legal version of this news story can be accessed at https://www.thelincolnianonline.com/2019/02/22/contrafect-cfrx-trading-up-9-1.html.
About ContraFect (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.
Recommended Story: Cost of equity and a company’s balance sheet
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.