eFFECTOR Therapeutics (NASDAQ:EFTR) Earns Buy Rating from HC Wainwright

eFFECTOR Therapeutics (NASDAQ:EFTR)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $24.00 price objective on the stock. HC Wainwright’s price objective would indicate a potential upside of 78.44% from the company’s current price.

eFFECTOR Therapeutics Trading Up 4.2 %

Shares of eFFECTOR Therapeutics stock opened at $13.45 on Thursday. The stock has a market capitalization of $34.70 million, a price-to-earnings ratio of -0.79 and a beta of 0.52. eFFECTOR Therapeutics has a 1-year low of $8.44 and a 1-year high of $37.00. The firm’s 50-day moving average price is $11.91 and its two-hundred day moving average price is $12.81.

Institutional Trading of eFFECTOR Therapeutics

Several large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its stake in eFFECTOR Therapeutics by 512.2% during the second 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. Vanguard Group Inc. grew its stake in eFFECTOR Therapeutics by 42.2% during the fourth quarter. Vanguard Group Inc. now owns 574,413 shares of the company’s stock worth $268,000 after buying an additional 170,387 shares during the last quarter. CI Private Wealth LLC bought a new stake in eFFECTOR Therapeutics during the fourth quarter worth about $118,000. Sea Otter Advisors LLC bought a new stake in eFFECTOR Therapeutics during the first quarter worth about $93,000. Finally, Northern Trust Corp grew its stake in eFFECTOR Therapeutics by 336.8% during the fourth quarter. Northern Trust Corp now owns 160,812 shares of the company’s stock worth $75,000 after buying an additional 123,998 shares during the last quarter. 57.67% of the stock is owned by institutional investors.

About eFFECTOR Therapeutics

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.