Rafael (NYSE:RFL) Shares Down 3.6% - Here's Why

Key Points

• The shares of Rafael Holdings, Inc. (NYSE:RFL) fell by 3.6% during mid-day trading, closing at $1.48 after a previous close of $1.53.
• Despite the stock's decline, Wall Street Zen upgraded Rafael from a "sell" rating to a "hold" rating, signaling potential optimism among analysts.
• CEO Howard S. Jonas significantly increased his stake in the company by purchasing over 13 million shares at $1.28 each, indicating confidence in the firm’s future.

Rafael Holdings, Inc. (NYSE:RFL - Get Free Report) dropped 3.6% during mid-day trading on Monday . The company traded as low as $1.45 and last traded at $1.48. Approximately 90,224 shares traded hands during trading, an increase of 35% from the average daily volume of 66,733 shares. The stock had previously closed at $1.53.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Rafael from a "sell" rating to a "hold" rating in a report on Sunday, August 10th.

Rafael Price Performance

The stock has a 50-day moving average price of $1.80 and a 200 day moving average price of $1.76. The firm has a market cap of $51.76 million, a price-to-earnings ratio of -1.57 and a beta of 0.89.

Rafael (NYSE:RFL - Get Free Report) last posted its earnings results on Wednesday, June 11th. The company reported ($0.19) EPS for the quarter. Rafael had a negative return on equity of 24.75% and a negative net margin of 3,127.60%.The firm had revenue of $0.36 million for the quarter.

Insider Activity at Rafael

In other news, CEO Howard S. Jonas bought 13,080,457 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were acquired at an average price of $1.28 per share, for a total transaction of $16,742,984.96. Following the completion of the transaction, the chief executive officer owned 12,299,207 shares of the company's stock, valued at approximately $15,742,984.96. This trade represents a -1,674.30% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 10.20% of the company's stock.

Hedge Funds Weigh In On Rafael

Several institutional investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC acquired a new position in Rafael in the 1st quarter valued at about $26,000. Simplex Trading LLC acquired a new position in Rafael in the 2nd quarter valued at about $32,000. Marshall Wace LLP acquired a new position in Rafael in the 2nd quarter valued at about $50,000. Americana Partners LLC acquired a new position in Rafael in the 2nd quarter valued at about $76,000. Finally, Cable Car Capital LP acquired a new position in Rafael in the 2nd quarter valued at about $173,000. Institutional investors and hedge funds own 11.30% of the company's stock.

Rafael Company Profile

Rafael Holdings, Inc primarily engages in holding interests in clinical and early-stage pharmaceutical companies, and commercial real estate assets in the United States and Israel. It operates in two segments, Healthcare and Real Estate. The company engages in the development and commercialization of therapies that exploit the metabolic differences between normal cells and cancer cells.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.