Can-Fite BioPharma (NYSE:CANF) Downgraded by StockNews.com to “Sell”

StockNews.com lowered shares of Can-Fite BioPharma (NYSE:CANF) from a hold rating to a sell rating in a report published on Wednesday morning.

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

Can-Fite BioPharma Trading Down 0.5 %

Can-Fite BioPharma stock opened at $1.96 on Wednesday. The stock has a 50-day moving average price of $2.22 and a 200 day moving average price of $2.52. Can-Fite BioPharma has a 52 week low of $1.87 and a 52 week high of $4.69. The stock has a market cap of $6.94 million, a PE ratio of -1.12 and a beta of 1.39.

Hedge Funds Weigh In On Can-Fite BioPharma

A hedge fund recently raised its stake in Can-Fite BioPharma stock. Armistice Capital LLC lifted its stake in shares of Can-Fite BioPharma Ltd. (NYSE:CANF) by 35.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 518,853 shares of the company’s stock after acquiring an additional 136,055 shares during the period. Armistice Capital LLC owned 14.66% of Can-Fite BioPharma worth $1,339,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 21.00% of the company’s stock.

About Can-Fite BioPharma

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.