Can-Fite BioPharma (NYSE:CANF) Trading Up 0.3% – What’s Next?

Can-Fite BioPharma Ltd. (NYSE:CANF) was up 0.3% during mid-day trading on Wednesday . The company traded as high as $3.53 and last traded at $3.44. Approximately 51,391 shares traded hands during trading, a decline of 94% from the average daily volume of 837,951 shares. The stock had previously closed at $3.43.

Analyst Upgrades and Downgrades

Separately, D. Boral Capital downgraded Can-Fite BioPharma from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 24th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Can-Fite BioPharma presently has an average rating of “Hold” and a consensus target price of $65.00.

Can-Fite BioPharma Stock Performance

The company’s 50 day moving average price is $4.25 and its 200-day moving average price is $7.11. The company has a market cap of $4.15 million, a price-to-earnings ratio of -1.77 and a beta of 1.01.

Institutional Investors Weigh In On Can-Fite BioPharma

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC acquired a new position in shares of Can-Fite BioPharma in the 4th quarter valued at $41,000. Rhumbline Advisers raised its holdings in Can-Fite BioPharma by 42.4% during 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. Finally, Sabby Management LLC lifted its stake in 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 in the last quarter. 21.00% of the stock is owned by institutional investors and hedge funds.

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).