Bank of New York Mellon Corp raised its stake in shares of Conatus Pharmaceuticals Inc (NASDAQ:CNAT) by 41.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 184,021 shares of the biotechnology company’s stock after acquiring an additional 53,678 shares during the quarter. Bank of New York Mellon Corp’s holdings in Conatus Pharmaceuticals were worth $1,010,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CNAT. Russell Investments Group Ltd. bought a new stake in Conatus Pharmaceuticals during the 2nd quarter valued at $679,000. Schwab Charles Investment Management Inc. bought a new stake in Conatus Pharmaceuticals during the 2nd quarter valued at $1,041,000. Rhumbline Advisers bought a new stake in Conatus Pharmaceuticals during the 2nd quarter valued at $156,000. State of Wisconsin Investment Board bought a new stake in Conatus Pharmaceuticals during the 2nd quarter valued at $115,000. Finally, Teachers Advisors LLC purchased a new stake in shares of Conatus Pharmaceuticals during the 2nd quarter valued at $265,000. 36.84% of the stock is currently owned by institutional investors and hedge funds.
Shares of Conatus Pharmaceuticals Inc (NASDAQ CNAT) opened at $4.69 on Friday. Conatus Pharmaceuticals Inc has a twelve month low of $3.88 and a twelve month high of $9.40. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $140.73, a price-to-earnings ratio of -5.79 and a beta of 1.10.
Several analysts have recently commented on CNAT shares. Seaport Global Securities reiterated a “buy” rating and set a $16.00 price objective on shares of Conatus Pharmaceuticals in a report on Friday, October 6th. Zacks Investment Research upgraded Conatus Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. Finally, HC Wainwright reiterated a “buy” rating and set a $17.00 price objective (down previously from $18.00) on shares of Conatus Pharmaceuticals in a report on Thursday, November 2nd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $14.00.
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Conatus Pharmaceuticals Company 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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