Can-Fite BioPharma (NYSE:CANF) Trading Up 0.3% – Still a Buy?

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

Analysts Set New Price Targets

Separately, D. Boral Capital downgraded shares of Can-Fite BioPharma from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 24th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $65.00.

Can-Fite BioPharma Stock Up 0.3%

The firm’s 50 day moving average is $4.29 and its 200-day moving average is $7.21. The firm has a market cap of $4.50 million, a PE ratio of -1.92 and a beta of 1.01.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Rhumbline Advisers boosted its position in shares of 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 acquiring an additional 11,388 shares during the last quarter. Jane Street Group LLC acquired a new position in Can-Fite BioPharma during the fourth quarter worth approximately $41,000. Finally, Sabby Management LLC increased its position 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 worth $871,000 after purchasing an additional 626,306 shares during the last quarter. 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).