Conatus Pharmaceuticals Inc (CNAT) Position Reduced by Acadian Asset Management LLC
Acadian Asset Management LLC lessened its position in Conatus Pharmaceuticals Inc (NASDAQ:CNAT) by 25.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 180,574 shares of the biotechnology company’s stock after selling 63,185 shares during the quarter. Acadian Asset Management LLC owned approximately 0.60% of Conatus Pharmaceuticals worth $1,048,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of CNAT. Jane Street Group LLC acquired a new position in shares of Conatus Pharmaceuticals in the 2nd quarter valued at about $142,000. Paloma Partners Management Co purchased a new position in shares of Conatus Pharmaceuticals in the 2nd quarter valued at about $547,000. Bank of America Corp DE increased its stake in shares of Conatus Pharmaceuticals by 75.7% in the 2nd quarter. Bank of America Corp DE now owns 140,687 shares of the biotechnology company’s stock valued at $602,000 after purchasing an additional 60,604 shares in the last quarter. Alambic Investment Management L.P. increased its stake in shares of Conatus Pharmaceuticals by 207.0% in the 2nd quarter. Alambic Investment Management L.P. now owns 264,665 shares of the biotechnology company’s stock valued at $1,133,000 after purchasing an additional 178,461 shares in the last quarter. Finally, MYDA Advisors LLC purchased a new position in shares of Conatus Pharmaceuticals in the 2nd quarter valued at about $154,000. Institutional investors and hedge funds own 31.93% of the company’s stock.
NASDAQ:CNAT traded down $0.23 during trading hours on Friday, hitting $1.71. 2,603,264 shares of the stock were exchanged, compared to its average volume of 825,289. Conatus Pharmaceuticals Inc has a 52-week low of $1.52 and a 52-week high of $7.95. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 0.83. The firm has a market cap of $58.71 million, a P/E ratio of -2.80 and a beta of 1.99.
Several brokerages recently weighed in on CNAT. ValuEngine lowered Conatus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, October 4th. Oppenheimer set a $14.00 price target on Conatus Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, October 1st. SunTrust Banks cut their price target on Conatus Pharmaceuticals to $12.00 and set a “buy” rating for the company in a research note on Thursday. Stifel Nicolaus lowered Conatus Pharmaceuticals from a “buy” rating to a “hold” rating and set a $4.00 price target for the company. in a research note on Thursday. Finally, HC Wainwright restated a “buy” rating on shares of Conatus Pharmaceuticals in a research note on Monday, November 5th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $11.12.
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About Conatus Pharmaceuticals
Conatus Pharmaceuticals Inc, a biotechnology company, focuses on the development and commercialization of novel medicines for the treatment of liver diseases in the United States. Its product candidates include Emricasan, an orally active pan-caspase protease inhibitor that is in Phase IIb clinical trials for post-orthotopic liver transplant as a result of hepatitis C virus infection with sustained viral response; for patients with portal hypertension; for patients liver fibrosis caused by nonalcoholic steatohepatitis; and for liver function.
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