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

Shares of Can-Fite BioPharma Ltd. (NYSE:CANF) are scheduled to reverse split on 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 Stock Down 26.4%

Shares of NYSE CANF traded down $0.06 during trading on Wednesday, reaching $0.18. The company had a trading volume of 3,783,805 shares, compared to its average volume of 1,829,043. The business’s 50-day moving average is $0.37 and its 200 day moving average is $0.64. The stock has a market cap of $4.63 million, a PE ratio of -0.10 and a beta of 0.98. Can-Fite BioPharma has a 12-month low of $0.17 and a 12-month high of $2.33.

Analyst Ratings Changes

A number of analysts have issued reports on CANF shares. D. Boral Capital reduced their price objective on Can-Fite BioPharma from $11.00 to $4.00 and set a “buy” rating on the stock in a research note on Wednesday, December 17th. Zacks Research raised shares of Can-Fite BioPharma to a “hold” rating in a report on Thursday, November 6th. Finally, HC Wainwright reiterated a “buy” rating and issued a $2.50 price target on shares of Can-Fite BioPharma in a research report on Tuesday, November 4th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $3.25.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Can-Fite BioPharma stock. Rhumbline Advisers grew its stake in Can-Fite BioPharma Ltd. (NYSE:CANF) by 42.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 38,268 shares of the company’s stock after buying an additional 11,388 shares during the quarter. Rhumbline Advisers owned 1.08% of Can-Fite BioPharma worth $57,000 as of its most recent SEC filing. 21.00% of the stock is owned by hedge funds and other institutional investors.

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).