eFFECTOR Therapeutics (NASDAQ:EFTR) Given New $24.00 Price Target at HC Wainwright

eFFECTOR Therapeutics (NASDAQ:EFTRGet Free Report) had its price target increased by equities research analysts at HC Wainwright to $24.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 119.58% from the stock’s previous close. HC Wainwright also issued estimates for eFFECTOR Therapeutics’ Q4 2023 earnings at ($3.21) EPS, FY2023 earnings at ($16.19) EPS, Q1 2024 earnings at ($2.06) EPS, Q2 2024 earnings at ($1.53) EPS, Q3 2024 earnings at ($1.22) EPS, Q4 2024 earnings at ($1.02) EPS and FY2024 earnings at ($5.41) EPS.

eFFECTOR Therapeutics Stock Up 2.1 %

EFTR stock traded up $0.23 during mid-day trading on Tuesday, reaching $10.93. The company’s stock had a trading volume of 6,084 shares, compared to its average volume of 110,739. eFFECTOR Therapeutics has a fifty-two week low of $8.44 and a fifty-two week high of $37.00. The company’s 50 day moving average is $11.21 and its two-hundred day moving average is $13.96.

eFFECTOR Therapeutics (NASDAQ:EFTRGet Free Report) last released its quarterly earnings data on Monday, November 13th. The company reported ($3.25) EPS for the quarter, meeting analysts’ consensus estimates of ($3.25). As a group, analysts forecast that eFFECTOR Therapeutics will post -15.6 earnings per share for the current fiscal year.

Insider Transactions at eFFECTOR Therapeutics

In other news, major shareholder Sr One Capital Management, Llc sold 24,366 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $15.25, for a total transaction of $371,581.50. Following the completion of the sale, the insider now owns 72,856 shares in the company, valued at approximately $1,111,054. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.40% of the company’s stock.

Institutional Trading of eFFECTOR Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in EFTR. Renaissance Technologies LLC increased its holdings in shares of eFFECTOR Therapeutics by 512.2% during the 2nd quarter. Renaissance Technologies LLC now owns 880,908 shares of the company’s stock worth $731,000 after buying an additional 737,008 shares during the last quarter. CI Private Wealth LLC purchased a new position in shares of eFFECTOR Therapeutics during the 4th quarter worth approximately $118,000. Sea Otter Advisors LLC purchased a new position in shares of eFFECTOR Therapeutics during the 1st quarter worth approximately $93,000. Sonora Investment Management Group LLC purchased a new position in shares of eFFECTOR Therapeutics during the 3rd quarter worth approximately $75,000. Finally, Two Sigma Investments LP purchased a new position in shares of eFFECTOR Therapeutics during the 3rd quarter worth approximately $27,000. Institutional investors and hedge funds own 57.67% of the company’s stock.

About eFFECTOR Therapeutics

(Get Free Report)

eFFECTOR Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the development of selective translation regulator inhibitors for the treatment of cancer. Its lead product candidate is Tomivosertib, an oral small-molecule inhibitor of MNK that is in phase 2b clinical trial for the treatment of patients with metastatic non-small cell lung cancer.

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