Is ContraFect Corp (CFRX) A Good Stock To Buy?

Consequently, some big names were leading the bulls’ herd. Baker Bros. Advisors initiated the largest position in ContraFect Corp (NASDAQ:CFRX). Anand Parekh’s Alyeska Investment Group also made a $3.1 million investment in the stock during the quarter. The other funds with new positions in the stock are Michael S. WeissáandáLindsay A. Rosenwald’s Opus Point Partners Management and Millennium Management, one of the 10 largest hedge funds in the world.

Let’s now take a look at hedge fund activity in other stocks similar to ContraFect Corp (NASDAQ:CFRX). We will take a look at Peregrine Pharmaceuticals (NASDAQ:PPHM), KLR Energy Acquisition Corp (NASDAQ:KLRE), PRGX Global Inc (NASDAQ:PRGX), and pSivida Corp. (NASDAQ:PSDV). This group of stocks’ market caps are similar to CFRX’s market cap.

As you can see these stocks had an average of six funds with bullish positions and the average amount invested in these stocks was $17 million, versus $37 million in CFRX’s case. Peregrine Pharmaceuticals (NASDAQ:PPHM) is the most popular stock in this table. On the other hand KLR Energy Acquisition Corp (NASDAQ:KLRE) is the least popular one with only five funds holding shares. Compared to these stocks ContraFect Corp (NASDAQ:CFRX) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: none