Can-Fite BioPharma (NYSE:CANF) Rating Lowered to Sell at StockNews.com

Can-Fite BioPharma (NYSE:CANF) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Can-Fite BioPharma in a research report on Tuesday, November 12th.

Can-Fite BioPharma Price Performance

NYSE:CANF opened at $2.04 on Wednesday. The business’s 50-day simple moving average is $2.24 and its 200-day simple moving average is $2.52. Can-Fite BioPharma has a fifty-two week low of $1.83 and a fifty-two week high of $4.69. The stock has a market capitalization of $7.22 million, a PE ratio of -1.14 and a beta of 1.39.

Hedge Funds Weigh In On Can-Fite BioPharma

An institutional investor recently raised its position in Can-Fite BioPharma stock. Armistice Capital LLC lifted its holdings in Can-Fite BioPharma Ltd. (NYSE:CANF) by 35.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 518,853 shares of the company’s stock after purchasing an additional 136,055 shares during the quarter. Armistice Capital LLC owned 14.66% of Can-Fite BioPharma worth $1,339,000 as of its most recent SEC filing. 21.00% of the stock is owned by hedge funds and other institutional investors.

Can-Fite BioPharma Company Profile

Can-Fite BioPharma Ltd., a clinical-stage biopharmaceutical company, develops small molecule therapeutic products for the treatment of cancer, liver inflammatory diseases, and erectile dysfunction. The company's lead drug candidate Piclidenoson, which has been completed Phase III clinical trial for the treatment of psoriasis; and Phase II clinical trial for the treatment of COVID-19.