Can-Fite BioPharma (NYSE:CANF) Stock Price Down 15.6% – Here’s Why

Can-Fite BioPharma Ltd. (NYSE:CANF)’s share price fell 15.6% during mid-day trading on Thursday . The stock traded as low as $3.50 and last traded at $3.91. Approximately 915,501 shares were traded during trading, a decline of 28% from the average session volume of 1,270,520 shares. The stock had previously closed at $4.63.

Wall Street Analyst Weigh In

A number of research analysts have commented on CANF shares. Zacks Research raised shares of Can-Fite BioPharma to a “hold” rating in a research report on Wednesday, May 13th. D. Boral Capital raised shares of Can-Fite BioPharma from a “hold” rating to a “buy” rating in a research report on Wednesday, May 13th. Finally, HC Wainwright reiterated a “buy” rating and set a $8.00 price objective (up from $5.00) on shares of Can-Fite BioPharma in a research note on Thursday. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Can-Fite BioPharma presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.00.

Can-Fite BioPharma Price Performance

The company has a market cap of $2.56 million, a P/E ratio of -2.18 and a beta of 1.12. The business has a 50-day moving average of $3.20 and a two-hundred day moving average of $3.73.

Institutional Investors Weigh In On Can-Fite BioPharma

A number of hedge funds and other institutional investors have recently bought and sold shares of CANF. Rhumbline Advisers grew its holdings in Can-Fite BioPharma by 42.4% in the first quarter. Rhumbline Advisers now owns 38,268 shares of the company’s stock worth $57,000 after purchasing an additional 11,388 shares during the last quarter. Sabby Management LLC boosted its position in shares of Can-Fite BioPharma by 80.3% in the 3rd quarter. Sabby Management LLC now owns 1,406,050 shares of the company’s stock worth $871,000 after purchasing an additional 626,306 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Can-Fite BioPharma in the 4th quarter worth $41,000. Hedge funds and other institutional investors own 21.00% of the company’s stock.

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).