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

Can-Fite BioPharma Ltd. (NYSE:CANF)’s stock is going 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 market closes on Sunday, January 4th.

Can-Fite BioPharma Trading Down 26.4%

CANF traded down $0.06 on Wednesday, reaching $0.18. The stock 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 price is $0.37 and its two-hundred day moving average price is $0.64. Can-Fite BioPharma has a 12-month low of $0.17 and a 12-month high of $2.33. The company has a market cap of $4.63 million, a P/E ratio of -0.10 and a beta of 0.98.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Can-Fite BioPharma

A hedge fund recently raised its stake in Can-Fite BioPharma stock. Rhumbline Advisers lifted its holdings in shares of Can-Fite BioPharma Ltd. (NYSE:CANF) by 42.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,268 shares of the company’s stock after purchasing an additional 11,388 shares during the quarter. Rhumbline Advisers owned about 1.08% of Can-Fite BioPharma worth $57,000 as of its most recent filing with the Securities and Exchange Commission. 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).