What News is Propelling ContraVir Pharmaceuticals Inc (NASDAQ:CTRV)?

ContraVir Pharmaceuticals Inc (NASDAQ:CTRV)

ContraVir Pharmaceuticals Inc. (NASDAQ:CTRV) has an average daily volume figure of just over 458,000. However before lunch today over 4.2 million CTRV shares have exchanged hands. If this volume trend continues, CTRV will have traded over 26 times its average daily trading volume. Experienced traders realize that such volume multiples typically follow news affecting the company. However, a review of financial news sources has found no such release that could account for such an increase in volumes. On Friday CTRV closed at $1.45, opened today’s regular session at $1.56, and reached a high of $1.85 – an increase of over 27%.

Edison, NJ-based ContraVir Pharmaceuticals Inc. (NASDAQ:CTRV) is a biopharmaceutical company that develops and commercializes antiviral therapies. They currently have three product candidates – TXL, CRV431, and Valnivudine.

Pipeline

In the past 52-weeks, ContraVir Pharmaceuticals Inc. (NASDAQ:CTRV) has hit a low of $0.81 and a high of $2.65. The Average True Range for CTRV is only $0.09. This figure lends itself to a level of importance in today’s trading that has seen CTRV hit a low of $1.53 and a high of $1.85 – a range of $0.32.

ContraVir Pharmaceuticals Inc. (NASDAQ:CTRV) has no sales. CTRV shareholders experienced an EPS loss of -$0.41 in 2014 followed by losses of -$1.02, and -$0.63 in 2016. Dilution has also been a concern. In 2013 there were 9 million shares outstanding. That figure increased every year and in 2016 the company had 27.06 million shares outstanding. Two firms follow ContraVir Pharmaceuticals Inc. (NASDAQ:CTRV) and both rate CTRV as a “Strong Buy”. Their consensus price target is $4.50.

3/20/2017
Ticker Symbol CTRV
Last Price a/o 11:17 AM EST  $                      1.68
Average Volume                    458,100
Market Cap (mlns)  $                    91.00
Sales (mlns) $0.00
Shares Outstanding (mlns) 62.76
Share Float (mlns) 58.28
Shortable Yes
Optionable No
Inside Ownership 0.10%
Short Float 4.59%
Short Interest Ratio 5.84
Quarterly Return -27.50%
YTD Return 20.83%
Year Return 27.19%

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: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

Author: Marcus Anderson

Marc has a degree in economics and a MSc. in Finance. Marc worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

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