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

Shares of Can-Fite BioPharma Ltd. (NYSE:CANF) fell 3.6% during mid-day trading on Tuesday . The company traded as low as $3.37 and last traded at $3.45. 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 subject of a number of recent research reports. Zacks Research upgraded Can-Fite BioPharma to a “hold” rating in a report on Wednesday, May 13th. HC Wainwright restated a “buy” rating and set a $8.00 price target (up from $5.00) on shares of Can-Fite BioPharma in a report on Thursday, July 2nd. Finally, D. Boral Capital upgraded Can-Fite BioPharma from a “hold” rating to a “buy” rating in a research report on Wednesday, May 13th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Can-Fite BioPharma currently has a consensus rating of “Moderate Buy” and an average price target of $44.00.

Can-Fite BioPharma Stock Performance

The stock has a fifty day moving average of $3.27 and a 200-day moving average of $3.49. The company has a market cap of $2.24 million, a PE ratio of -1.91 and a beta of 1.11.

Hedge Funds Weigh In On Can-Fite BioPharma

An institutional investor recently bought a new stake in Can-Fite BioPharma stock. Jane Street Group LLC purchased a new stake in shares of Can-Fite BioPharma Ltd. (NYSE:CANF) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 205,004 shares of the company’s stock, valued at approximately $41,000. Jane Street Group LLC owned approximately 15.66% of Can-Fite BioPharma as of its most recent filing with the Securities & Exchange Commission. 21.00% of the stock is owned by 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).