Can-Fite BioPharma (NYSE:CANF) Shares Up 0.3% – Time to Buy?

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

Analyst Upgrades and Downgrades

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 research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $65.00.

Can-Fite BioPharma Trading Up 0.3%

The firm has a market capitalization of $4.50 million, a price-to-earnings ratio of -1.92 and a beta of 1.01. The firm has a 50 day moving average price of $4.29 and a two-hundred day moving average price of $7.21.

Hedge Funds Weigh In On Can-Fite BioPharma

A number of hedge funds have recently made changes to their positions in CANF. Jane Street Group LLC acquired a new position in shares of Can-Fite BioPharma during the 4th quarter valued at $41,000. Rhumbline Advisers boosted its position in Can-Fite BioPharma by 42.4% during the 1st 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 period. Finally, Sabby Management LLC increased its holdings in Can-Fite BioPharma by 80.3% in the 3rd quarter. Sabby Management LLC now owns 1,406,050 shares of the company’s stock valued at $871,000 after purchasing an additional 626,306 shares in the last quarter. Hedge funds and other institutional investors own 21.00% of the company’s stock.

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).