Bank of New York Mellon Corp grew its stake in Conatus Pharmaceuticals Inc. (NASDAQ:CNAT) by 62.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,343 shares of the biotechnology company’s stock after acquiring an additional 50,033 shares during the period. Bank of New York Mellon Corp owned 0.50% of Conatus Pharmaceuticals worth $751,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of Montreal Can acquired a new stake in Conatus Pharmaceuticals in the 2nd quarter valued at about $109,000. State of Wisconsin Investment Board acquired a new stake in Conatus Pharmaceuticals during the second quarter worth approximately $115,000. Strs Ohio acquired a new stake in Conatus Pharmaceuticals during the second quarter worth approximately $153,000. Eagle Global Advisors LLC acquired a new stake in Conatus Pharmaceuticals during the second quarter worth approximately $156,000. Finally, Rhumbline Advisers acquired a new stake in Conatus Pharmaceuticals during the second quarter worth approximately $156,000. Institutional investors own 33.04% of the company’s stock.
Conatus Pharmaceuticals Inc. (CNAT) traded up $0.10 during midday trading on Friday, hitting $4.22. 175,200 shares of the company’s stock were exchanged, compared to its average volume of 628,909. Conatus Pharmaceuticals Inc. has a 12-month low of $1.73 and a 12-month high of $9.40. The company has a current ratio of 2.69, a quick ratio of 2.77 and a debt-to-equity ratio of 0.41.
Conatus Pharmaceuticals (NASDAQ:CNAT) last posted its earnings results on Wednesday, November 1st. The biotechnology company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.08). The company had revenue of $9.57 million for the quarter, compared to the consensus estimate of $16.06 million. Conatus Pharmaceuticals had a negative return on equity of 83.02% and a negative net margin of 80.98%. During the same period in the previous year, the firm posted ($0.31) EPS. sell-side analysts predict that Conatus Pharmaceuticals Inc. will post -0.65 earnings per share for the current year.
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A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Conatus Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. HC Wainwright reiterated a “buy” rating and issued a $17.00 price target (down from $18.00) on shares of Conatus Pharmaceuticals in a research report on Thursday, November 2nd. Seaport Global Securities reiterated a “buy” rating and issued a $16.00 price target on shares of Conatus Pharmaceuticals in a research report on Friday, October 6th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $10.00 price target on shares of Conatus Pharmaceuticals in a research report on Thursday, August 3rd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Conatus Pharmaceuticals has an average rating of “Buy” and a consensus target price of $16.00.
Conatus Pharmaceuticals Profile
Conatus Pharmaceuticals Inc is a biotechnology company. The Company focuses on the development and commercialization of medicines to treat liver disease. The Company operates through commercialization and development of pharmaceutical products segment. The Company is engaged in developing emricasan, which is an orally active pan-caspase protease inhibitor for the treatment of patients with chronic liver disease.
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