Can-Fite BioPharma (NYSE:CANF) Trading Down 15.6% – Time to Sell?

Can-Fite BioPharma Ltd. (NYSE:CANF) traded down 15.6% on Thursday . The stock traded as low as $3.50 and last traded at $3.91. Approximately 915,501 shares changed hands during trading, a decline of 28% from the average daily volume of 1,270,520 shares. The stock had previously closed at $4.63.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CANF shares. Zacks Research raised Can-Fite BioPharma to a “hold” rating in a research note on Wednesday, May 13th. HC Wainwright reissued a “buy” rating and set a $8.00 target price (up from $5.00) on shares of Can-Fite BioPharma in a research report on Thursday. Finally, D. Boral Capital upgraded Can-Fite BioPharma from a “hold” rating to a “buy” rating in a report on Wednesday, May 13th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $44.00.

Can-Fite BioPharma Stock Down 15.6%

The firm has a market cap of $2.56 million, a PE ratio of -2.18 and a beta of 1.12. The business has a 50 day simple moving average of $3.20 and a two-hundred day simple moving average of $3.73.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CANF. Rhumbline Advisers lifted its holdings in shares of Can-Fite BioPharma by 42.4% in the 1st quarter. Rhumbline Advisers now owns 38,268 shares of the company’s stock worth $57,000 after buying an additional 11,388 shares during the period. Jane Street Group LLC bought a new position in shares of Can-Fite BioPharma during the 4th quarter worth $41,000. Finally, Sabby Management LLC increased its stake in shares of Can-Fite BioPharma by 80.3% during the third quarter. Sabby Management LLC now owns 1,406,050 shares of the company’s stock valued at $871,000 after buying an additional 626,306 shares during the period. 21.00% of the stock is currently owned by hedge funds and other institutional investors.

About Can-Fite BioPharma

Can-Fite BioPharma Ltd. is a clinical-stage biopharmaceutical company headquartered in Petah Tikva, Israel, that focuses on the development of small molecule drugs for the treatment of inflammatory, oncology and liver diseases. Established in 1994, the company leverages its proprietary technology platform centered on modulating the adenosine receptor system to advance novel therapeutic candidates. Can-Fite’s research and development efforts are directed toward addressing significant unmet medical needs in autoimmune and cancer indications.

The company’s lead product candidates include piclidenoson (CF101) and namodenoson (CF102).