Genfit (NASDAQ:GNFT) Trading 2% Higher - Here's Why

Genfit S.A. (NASDAQ:GNFT - Get Free Report)'s stock price shot up 2% during trading on Tuesday . The company traded as high as $4.75 and last traded at $4.62. 11,051 shares changed hands during mid-day trading, a decline of 26% from the average session volume of 14,856 shares. The stock had previously closed at $4.53.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a "buy" rating and issued a $13.00 price objective on shares of Genfit in a research report on Friday, February 7th.

Genfit Price Performance

The stock's 50-day moving average is $3.62 and its 200-day moving average is $3.93. The company has a current ratio of 3.74, a quick ratio of 3.74 and a debt-to-equity ratio of 0.61.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Genfit stock. Millennium Management LLC acquired a new position in shares of Genfit S.A. (NASDAQ:GNFT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 166,375 shares of the company's stock, valued at approximately $611,000. Millennium Management LLC owned approximately 0.33% of Genfit at the end of the most recent reporting period. 2.24% of the stock is currently owned by institutional investors.

Genfit Company Profile

Genfit SA, a late-stage biopharmaceutical company, discovers and develops drug candidates and diagnostic solutions for metabolic and liver-related diseases. The company develops Elafibranor, which is in Phase III clinical trial to treat patients with primary biliary cholangitis. It also engages in the development of NIS4 technology for the diagnosis of nonalcoholic steatohepatitis (NASH) and fibrosis; VS-01 for the treatment of Urea Cycle Disorder (UCD) and Organic Acidemia Disorder (OAD); GNS561, which is in Phase 1b/2a trial to treat patients with cholangiocarcinoma (CCA); VS-01-ACLF and Nitazoxanide (NTZ), which is in Phase 1 trial to treat acute-on-chronic liver failure, as well as VS-02-HE, which is in preclinical trial for the treatment of Reduction of Hyperammonemia and the Stabilization of Blood Ammonia; CML-022; SRT-015, an ASK1 inhibitor targets the inhibition of cellular apoptosis, inflammation, and fibrosis.