ContraFect Corporation (CFRX) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the health care sector during morning trading on September 23. At the lunch break, shares of CFRX have clocked gains of 8.26% to $2.36 after closing the day prior at $2.18. In the first two and a half hours of trading, the stock has gone as high as $2.36 and as low as $2.22. Today’s rise has come with about 51,261 shares changing hands, compared to an average 30-day volume of 91,346 for ContraFect Corporation. The price is currently below the 30-day volume weighted average price of $2.29 for CFRX.
The share appreciation gives the company a market capitalization of $90.56 million based upon 41.54 million shares outstanding. It also means that CFRX has a price-to-book ratio of 6.58:1.
In the past 52 weeks, shares of CFRX have traded as low as $2.0968 and as high as $5.35. Technical traders will take note that at $2.36, shares of CFRX are trading below their 200-day MA at $3.18 and below their 50-day MA at $2.41. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is CFRX?
ContraFect Corp is a biotechnology company engaged in the development of protein and antibody therapeutic products for life-threatening infectious diseases. The Company's product candidates are CF-30, CF-404. The company’s 31 employees are led by CEO Steven C. Gilman from the corporate headquarters at 28 Wells Avenue in Yonkers, NY.
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