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

Can-Fite BioPharma Ltd. (NYSE:CANF)’s share price traded down 3.6% during 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 session volume of 1,038,148 shares. The stock had previously closed at $3.58.

Analyst Ratings Changes

Several analysts recently issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $8.00 target price (up from $5.00) on shares of Can-Fite BioPharma in a report on Thursday, July 2nd. D. Boral Capital upgraded Can-Fite BioPharma from a “hold” rating to a “buy” rating in a research note on Wednesday, May 13th. Finally, Zacks Research raised Can-Fite BioPharma to a “hold” rating in a research 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 stock. According to MarketBeat.com, Can-Fite BioPharma currently has an average rating of “Moderate Buy” and an average price target of $44.00.

Can-Fite BioPharma Stock Down 3.6%

The stock has a market cap of $2.26 million, a price-to-earnings ratio of -1.93 and a beta of 1.11. The business’s 50 day simple moving average is $3.26 and its 200 day simple moving average is $3.49.

Institutional Trading of Can-Fite BioPharma

An institutional investor recently raised its stake in Can-Fite BioPharma stock. Rhumbline Advisers boosted its stake in Can-Fite BioPharma Ltd. (NYSE:CANF) by 42.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 38,268 shares of the company’s stock after buying an additional 11,388 shares during the period. Rhumbline Advisers owned approximately 1.08% of Can-Fite BioPharma worth $57,000 as of its most recent filing with the SEC. Institutional investors and hedge funds 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).