Conatus Pharmaceuticals Inc. (NASDAQ:CNAT)
Conatus Pharmaceuticals Inc. (NASDAQ:CNAT) has a listed Average True Range of 0.33 but today the low for CNAT has been $5.65 with a high of $6.43 – for a trading range of 0.78. Volumes have also increased significantly for the San Diego, CA-based biotech firm. CNAT’s average daily volume is 505,000 shares traded. Today, before noon, over 3.1 million shares have traded hands. However, the last share price for CNAT has barely moved since yesterday – up $0.09 for a gain of about 1.5%.
Conatus Pharmaceuticals Inc. (NASDAQ:CNAT) is a biotechnology company that develops and commercializes treatments for liver diseases. Emricasan is an orally active caspase protease inhibitor designed to reduce the activity of enzymes that mediate inflammation and cell death, or apoptosis. Conatus believes that by reducing the activity of these enzymes, emricasan has the potential to interrupt the progression of liver disease. To date, emricasan has been administered to over 650 subjects in eight Phase 1 and eight Phase 2 clinical trials, and has been generally well-tolerated in both healthy volunteers and patients with liver disease. Emricasan has also been extensively profiled in in vitro tests and studied in many preclinical models of human disease.
Interestingly, today’s price action, while resulting in little gain, has resulted in touching upon a new 52-week high of $6.43. CNAT’s previous 52-week high was $6.30. Institutions own over 28% of CNAT stock and have added to that position to the tune of over 4% recently. YTD CNAT shares are up over 12%, and up over 175% for the past year. This performance is a little surprising given that Conatus Pharmaceuticals Inc. (NASDAQ:CNAT) missed on analyst estimates for Q4 EPS and revenues. Regardless, that seems to not have changed the minds of the analysts. All six that follow Conatus Pharmaceuticals Inc. (NASDAQ:CNAT) rate CNAT shares as a “Strong Buy” with a consensus price target of $13.50.
|Last Price a/o 12:01 PM EST||$ 6.02|
|Market Cap (mlns)||$ 154.32|
|Shares Outstanding (mlns)||26.07|
|Share Float (mlns)||25.3|
|Short Interest Ratio||1.8|
I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.
About the author: James Marion is a University of Houston student studying Business with a concentration in Finance.