Can-Fite BioPharma (NYSE:CANF) Upgraded to “Hold” at StockNews.com

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

Several other brokerages have also recently weighed in on CANF. EF Hutton Acquisition Co. I upgraded Can-Fite BioPharma to a “strong-buy” rating in a report on Wednesday, July 17th. HC Wainwright reiterated a “buy” rating and set a $18.00 price objective on shares of Can-Fite BioPharma in a research note on Tuesday.

Can-Fite BioPharma Price Performance

NYSE CANF opened at $1.99 on Tuesday. The firm’s 50 day moving average is $2.25 and its 200-day moving average is $2.52. The company has a market capitalization of $7.04 million, a PE ratio of -1.11 and a beta of 1.39. Can-Fite BioPharma has a 12-month low of $1.83 and a 12-month high of $4.69.

Hedge Funds Weigh In On Can-Fite BioPharma

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

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.