Can-Fite BioPharma (NYSE:CANF) Shares Down 4.9% – Time to Sell?

Can-Fite BioPharma Ltd. (NYSE:CANF) dropped 4.9% on Thursday . The company traded as low as $2.93 and last traded at $2.93. Approximately 56,513 shares traded hands during trading, a decline of 91% from the average daily volume of 657,975 shares. The stock had previously closed at $3.08.

Wall Street Analysts Forecast Growth

Separately, D. Boral Capital cut shares of 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $65.00.

Can-Fite BioPharma Stock Down 4.9%

The company has a market cap of $1.92 million, a P/E ratio of -1.64 and a beta of 1.06. The firm’s 50 day moving average is $3.94 and its two-hundred day moving average is $6.14.

Hedge Funds Weigh In On Can-Fite BioPharma

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rhumbline Advisers lifted 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 valued at $57,000 after buying an additional 11,388 shares during the period. Jane Street Group LLC acquired a new position in Can-Fite BioPharma in the fourth quarter valued at $41,000. Finally, Sabby Management LLC lifted its holdings in Can-Fite BioPharma by 80.3% in 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 during the period. Institutional investors and hedge funds 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).