Can-Fite BioPharma (NYSE:CANF) Trading Down 3.6% – Here’s What Happened

Can-Fite BioPharma Ltd. (NYSE:CANF)’s stock price was down 3.6% during mid-day trading on Tuesday . The company traded as low as $3.37 and last traded at $3.45. Approximately 33,993 shares traded hands during trading, a decline of 97% from the average daily volume of 1,038,148 shares. The stock had previously closed at $3.58.

Wall Street Analysts Forecast Growth

CANF has been the topic of a number of recent research reports. Zacks Research upgraded Can-Fite BioPharma to a “hold” rating in a research note on Wednesday, May 13th. D. Boral Capital upgraded Can-Fite BioPharma from a “hold” rating to a “buy” rating in a research note on Wednesday, May 13th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price objective (up from $5.00) on shares of Can-Fite BioPharma in a report on Thursday, July 2nd. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $44.00.

Can-Fite BioPharma Trading Down 3.6%

The firm has a market cap of $2.26 million, a price-to-earnings ratio of -1.93 and a beta of 1.11. The firm’s 50 day simple moving average is $3.26 and its two-hundred day simple moving average is $3.49.

Institutional Investors Weigh In On Can-Fite BioPharma

A hedge fund recently raised its position in Can-Fite BioPharma stock. Rhumbline Advisers increased its stake in shares of Can-Fite BioPharma Ltd. (NYSE:CANF) by 42.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,268 shares of the company’s stock after buying an additional 11,388 shares during the quarter. Rhumbline Advisers owned about 1.08% of Can-Fite BioPharma worth $57,000 at the end of the most recent reporting period. Institutional investors own 21.00% of the company’s stock.

Can-Fite BioPharma Company Profile

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).