Can-Fite BioPharma Stock Scheduled to Reverse Split on Monday, January 5th (NYSE:CANF)

Can-Fite BioPharma Ltd. (NYSE:CANF)’s stock is scheduled to reverse split on the morning of Monday, January 5th. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, January 4th.

Can-Fite BioPharma Trading Up 18.6%

Shares of Can-Fite BioPharma stock opened at $0.21 on Friday. The stock has a 50-day moving average price of $0.35 and a 200 day moving average price of $0.63. The company has a market cap of $5.60 million, a P/E ratio of -0.12 and a beta of 0.98. Can-Fite BioPharma has a 1 year low of $0.17 and a 1 year high of $2.33.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CANF. HC Wainwright reiterated a “buy” rating and set a $2.50 price objective on shares of Can-Fite BioPharma in a research note on Tuesday, November 4th. Zacks Research upgraded shares of Can-Fite BioPharma to a “hold” rating in a research report on Thursday, November 6th. D Boral Capital cut Can-Fite BioPharma from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Finally, D. Boral Capital decreased their price target on Can-Fite BioPharma from $11.00 to $4.00 and set a “buy” rating on the stock in a report on Wednesday, December 17th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Can-Fite BioPharma presently has a consensus rating of “Moderate Buy” and an average price target of $3.25.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Can-Fite BioPharma stock. Sabby Management LLC boosted its position in shares of Can-Fite BioPharma Ltd. (NYSE:CANF) by 80.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,406,050 shares of the company’s stock after buying an additional 626,306 shares during the period. Can-Fite BioPharma makes up approximately 1.0% of Sabby Management LLC’s investment portfolio, making the stock its 6th largest position. Sabby Management LLC owned about 39.72% of Can-Fite BioPharma worth $871,000 at the end of the most recent reporting period. 21.00% of the stock is currently owned by hedge funds and other institutional investors.

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).